- Bangladesh’s National Board of Revenue (NBR) launched an online VAT refund system (e-VAT) to streamline and speed up the refund process.
- The new platform allows taxpayers to apply for VAT refunds online, with payments credited directly to their bank accounts.
- Despite the digital upgrade, concerns remain about persistent delays, with refunds often taking much longer than the mandated three months.
- Business groups and exporters welcomed the move but warned that digitisation alone won’t solve delays without better implementation, monitoring, and accountability.
- The success of the e-VAT system depends on strict enforcement of timelines, transparency, and addressing longstanding systemic issues.
Source: apparelresources.com
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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