The National Board Revenue (NBR) has planned to fully automatise the value added tax (VAT) system within a year, NBR Chairman Mosharraf Hossain Bhuiyan said.
Speaking at programme in the city on Monday, the NBR chief said, “We will bring VAT udder complete automation within a year and introduce eclectic fiscal device (EFD). So, we are processing to float tender.”
All business establishments will be connected to the NBR’s main server under EFD,” Bhuiyan said.
The NBR chief said that progress in revenue (collection) indicates that VAT is our main driving forces.
Citing NBR’s targeting Tk 3 trillion in revenue in the proposed 2018-19 budget, Bhuiyan said, “This is a big challenge. However, the government is working on how to meet the target.”
Bhuiyan also unveiled the mobile app of NBR’s ‘Large Taxpayers Unit’ (LTU) and a documentary on VAT at the programme.
Predicting the growth of revenue collection in 2017-18 may stands at 20 per cent, Bhuiyan said, “It (growth) may increase to 22 per cent to 25 per cent but it depends on the revenue collection in the month of July.”