The National Board of Revenue on Sunday awarded top nine VAT paying businesses at the national level and 140 other entities at districts level for depositing the highest amounts of value-added tax to the government exchequer for the fiscal year 2015-2016.
The awards have been given to the businesses under three categories — production, service and business — at functions held at eight divisional cities on the occasion of National VAT Day (December 10) and VAT Week (December 10-15).
The revenue board arranged the central programme at its under-construction headquarters at Agargaon in Dhaka where finance minister Abul Maal Abdul Muhith, parliamentary standing committee on finance ministry president Abdur Razzak and industries minister Amir Hossain Amu handed over crests and certificates to representatives of the national level winners and some other awardees from Dhaka region.
Narsingdi Gas Field (Narsingdi), Healthcare Pharmaceuticals Ltd (Gazipur) and Berger Paints Bangladesh Ltd (Savar, Dhaka) got the recognition of the highest VAT-payers under the production category.
Under the business category, SC Johnson Private Ltd (Gazipur), Unimart Ltd (Dhaka) and Prince Bazar Ltd (Dhaka) have become the top VAT-payers for the year.
Fiber @ Home Ltd (Dhaka), One World Aviation Limited (Dhaka) and Bureau Veritas (Savar, Dhaka) got the award under the service category.
At the programme, Razzak said that the revenue board might amend the deferred VAT law in a manner so that businesses could not raise further objection against the law.
The government postponed the law for two years following strong opposition of businesses particularly the Federation of Bangladesh Chambers of Commerce and Industry, he said.
So, the NBR should take initiatives to resolve the issues, he said, adding that the government should review the steps taken so far in this connection.
Muhith said that the trend of tax collection in the country had been changing over the years as young generation aged below 40 was now more interested to pay tax in returns of government’s contribution to their economic advancement.
The trend is really encouraging, he said.
Amu said that VAT collection process should be transparent and easy.
He said that the government was progressing with its development work mainly with domestic resources though the revenue collection was still lower than required.
The FBCCI president Shafiul Islam Mohiuddin said that the process of VAT collection should be easy and hassle-free.
VAT system should also be customised in line with the socio-economic context of the country, he said, adding that it should not be similar to other countries and multilateral frameworks.
NBR chairman Md Nojibur Rahman presided over the programme while NBR member (customs and VAT administration), also VAT online project director Rezaul Hassan presented a key-note paper.
The revenue board also honoured some media houses, reporters, trade bodies and actor Ferdous Ahmed for their contribution in creating awareness and motivation for payment of VAT in the country.
The NBR also handed over the awards to the highest VAT payers in Dhaka region at the programme while the winners from other districts received their crests and certificates from the programmes at divisional headquarters.
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