This was all thanks to an NBR initiative to boost the collection of value added tax (VAT) from the retail level and plug the scope for evading this charge. As such, the NBR recently announced this prize along with 100 others which would be disbursed through lotteries in a bid to encourage people to ask for machine-generated receipts, ensuring that the actual amount of VAT paid goes to the state coffer .
Source: thedailystar.net
Latest Posts in "Bangladesh"
- Bangladesh Exempts VAT on Large Vessel Imports to Boost Trade and Employment Opportunities
- Government Grants VAT Exemption on Import of Large Sea-Going Vessels
- NBR Halts Manual VAT Audits to Prevent Corruption, Plans Automated System Implementation
- Understanding Tax Refund Limitations: Legal and Erroneous Payment Criteria Under the Tax Code
- Bangladesh Loses Tk 1.88 Trillion to VAT Evasion and Exemptions in FY23, Study Reveals