Bangladesh Exceeds VAT Registration Target, Adds 131,000 Businesses in Nationwide Tax Expansion Drive

The NBR registered over 131,000 businesses for VAT in December, surpassing its 100,000 target.
Total VAT-registered businesses rose to about 775,000, up from 516,000 before the interim government.
The annual turnover threshold for mandatory VAT registration was lowered from Tk 30 million to Tk 5 million.
The NBR introduced measures to simplify VAT compliance, including online registration and digital filing.
VAT accounts for 38% of government revenue, but the VAT net is still considered too small for the size of Bangladesh’s business sector.

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.