DCCI for mobile apps in VAT collection

Dhaka Chamber of Commerce and Industry has urged the authorities to introduce mobile phone apps in the process of collecting value-added tax. “It is not so easy to give ECR machines to all businesses across the country. So the revenue authorities can consider using customised mobile apps in VAT calculation and collection,” said Abul Kasem Khan, president of DCCI, at a workshop on Saturday. “The world is now digitized. Financial transactions are now being done through mobile network,” he added in support of his proposal. DCCI president thinks the use of mobile apps will make the system easier. Abul Kasem Khan proposed 7% flat VAT rate instead of 15% rate in the new VAT law. “Since Bangladesh envisions graduating into middle income country by 2021 and becoming the world’s 30th largest economy by 2030, we need a huge investment,” DCCI president said. In reply, NBR chairman, who was present as the chief guest, assured of considering the proposal of mobile phone apps as financial transactions through the network have become popular. He said the NBR will work together with the DCCI, mobile phone operators, ICT ministry, PMO office’s A2I project and software industry trade body BASIS. Nojibur Rahman said the NBR is “firmly committed to ensure an investment and business-friendly environment in the country.” “The new VAT law is very easy, inclusive, hassle-free and business friendly,” he claimed. NBR  member Jahangir Hossain (VAT) and VAT Online Project Deputy Director Zakir Hossain were also present.