- NBR aims to bring 100,000 new businesses under the VAT net this month during VAT Week.
- Bangladesh currently has 644,000 VAT-registered entities, but only 344,000 filed VAT returns in October.
- An automated VAT refund system and a one-click e-VAT return system for small businesses are being introduced to improve efficiency and transparency.
- Tax collection has been impacted by banking sector instability and reduced development budget.
- Amendments to the VAT law are planned to simplify procedures and support automation.
Source: thedailystar.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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