- The National Board of Revenue (NBR) launched an online “e-VAT” system to credit VAT refunds directly to taxpayers’ bank accounts, aiming to reduce delays and administrative hassles.
- Traders and tax experts welcomed the move but warned that digitisation alone won’t solve chronic delays without better implementation and monitoring.
- Under current regulations, VAT refunds should be disbursed within three months, but in practice, they often take up to a year.
- The NBR has received 115 online refund applications so far, with only three settled, and is carrying around Tk 4,000 crore in outstanding refund liabilities.
- Business groups support the initiative as a step towards modernisation but stress the need for strong system integrity and accountability to avoid replicating existing problems digitally.
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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