VAT payers to get NBR honour cards

Staff Correspondent | Published: 00:05, Nov 20,2017 | Updated: 23:59, Nov 19,2017

 
 

The National Board of Revenue may offer VAT honour cards to traders filing value-added tax returns regularly and depositing VAT to the government exchequer properly.
The revenue board chairman Md Nojibur Rahman on Sunday said that they were considering providing VAT honour cards to businesses following huge response from income tax payers on Income Tax ID Card introduced at the tax fair.
He made the comment at a partnership dialogue with the Economic Reporters Forum held at VAT Online Project office in Dhaka.
He said that government high-ups including prime minister and finance minister praised the initiative of providing income tax ID card.
The revenue board will arrange VAT fair during the VAT week to be observed in December and businesses may get the card during the period.
Nojibur said that finance minister assured that income tax ID card would get an institutional shape with providing some facilities to the cardholders.
He also said that the NBR would send letters to law enforcing agencies including police and other government offices to show due respect to the cardholders.
Officials of the NBR said that there was a legal binding in the deferred VAT Rules-2016 of the new VAT law to provide VAT honour cards to all return filing traders.
VAT Online Project has also planned to issue the cards but the law, which was supposed to come into effect from July this year, has been postponed for two years till July 2019.
At the programme, VOP deputy director Zakir Hossain said that VAT honour card would be provided to a trader if he or she submits 12 returns in a fiscal year.
Cardholders will get some social, financial and legal benefits like discounts in shopping and in receiving some services, he said.

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