President Abdul Hamid and prime minister Sheikh Hasina on Monday greeted businesspersons, consumers, the VAT administration and it’s officials on the occasion of National VAT Day 2019 today and the National VAT Week 2019.
On the eve of the day, they issued separate messages wishing success to the programmes organised on the occasion.
In his message, president Hamid said that revenue collection is an essential element to continue the development activities of a state, including running the country.
‘VAT is the main source of revenue. Increasing mutual trust and communication between the National Board of Revenue officials and the business community are essential for realizing VAT properly,’ he said.
The president hoped that the country’s revenue repository would be enriched along with increasing awareness among the businessmen and consumers about the VAT through observance of the National VAT Day and the National VAT Week.
In her message, Sheikh Hasina said, ‘Our government has taken all the required steps to make the revenue management update and strengthen’.
The Value Added Tax and Supplementary Duty Act, 2012 came into effect on July 1, 2019 aiming at launching an information and technology-based time and money saving modern VAT system, she said, adding that it would ease the VAT paying process through online and increase the revenue collection.
The implementation of the ‘Visions 2021 and 2041’ of the government would be expedited through enriching the country’s revenue repository, including ensuring business and investment friendly environment, the prime minister said.
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