• Tuesday, Dec 10, 2019
  • Last Update : 02:00 pm

Online VAT registration deadline extended to Nov 30

  • Published at 10:18 pm October 31st, 2019
bigstock-vat-text-on-wooden-cubes-above-229256470-1527186070808.jpg
Bigstock

The revenue board issued a circular in this regard, asking VAT payers to take the 13-digit Vat online registration number, instead of old nine or 11 digits by the deadline

The National Board of Revenue (NBR) on Thursday extended the deadline for online Vat (Value Added Tax) registration by one month to November 30, responding to requests from leading trade bodies.

The revenue board issued a circular in this regard, asking VAT payers to take the 13-digit Vat online registration number, instead of old nine or 11 digits by the deadline. 

Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) and other business chambers and associations recently requested the revenue board for extending the deadline which expired on Thursday.

Earlier, the NBR announced that opening letter of credit (LC), doing export-import, participating in tendering process and pursuing other business activities could not be done without having the 13 digit number.

Besides, Bangladesh Bank on October 7 directed all commercial banks involved in foreign currency transaction not to allow importers while opening LCs without the 13-digit number after the deadline.

The central bank order came following an NBR request to give necessary directives to all commercial banks to ensure 13-digit VAT registration number.

The NBR introduced the 13 digit VAT registration number as part of implementing the ‘VAT and Supplementary Act 2012’ came into being  on July 1 this year.  

Of the 13 digits, the first nine digits are for business identification and the rest four will contain business address.

NBR official said the first deadline for taking the 13-digit number was  August 14 which was extended till October 31 this year.