Bangladesh Tightens VAT Return Deadlines to Accelerate Revenue Collection

• Bangladesh is restoring VAT return filing for each tax period, replacing the current system that allows one return after every three tax periods.
• Under the proposed amendment, VAT returns must be filed within 15 days after the end of each tax period.
• If the 15th day falls on a government holiday, filing may be made on the next working day.
• Government, semi-government and autonomous bodies, banks, insurance companies, and zero-return filers will get a longer deadline of 20 days after the end of the tax period.
• The change is intended to speed up and regularize VAT revenue collection and keep VAT transactions and liabilities under more frequent accounting.

Source: daily-sun.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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