- NBR plans major FY27 tax and VAT reforms to widen the tax net, especially by bringing more informal small businesses under VAT monitoring.
- The VAT registration threshold may be cut from Tk30 lakh to Tk20 lakh annual turnover, which would pull many neighborhood retailers into mandatory VAT tracking.
- The government wants to expand active VAT registrations from about 800,000 to 2 million and use technology, data sharing, and TIN cleanup to reduce evasion.
- A verified BIN may be required for key business activities like bank accounts, land registration, utility connections, and merchant MFS accounts.
- Major MFS providers such as bKash, Nagad, Rocket, and mCash will be linked to e-VAT for real-time transaction monitoring.
Source: dhakatribune.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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