• Tuesday, Oct 27, 2020
  • Last Update : 02:31 pm

VAT payment through mobile banking begins next month

  • Published at 08:20 pm August 31st, 2020
Seven the VAT slabs regime to go, 15% rate for imported, luxury items
Representational photo Bigstock

Once it is introduced, any business firm would be able to make VAT payment with ease and comfort through using mobile financial services like bkash, Rocket, and Nagad

The National Board of Revenue (NBR) is going to introduce mobile banking services from the next month to make the VAT payment system more smooth and popular.

Once it is introduced, any business firm would be able to make VAT payment with ease and comfort through using mobile financial services like bkash, Rocket, and Nagad.

Earlier on July 16, the Revenue Board introduced e-payment system for paying VAT through online directly from the Bank accounts under the VAT Online Project. With this, the business establishments are now paying VAT through online alongside submitting their VAT returns.

NBR officials said if the mobile banking services are added to the VAT payment system, the businesses would feel more encouraged to use the e-payment system for paying VAT.

Talking to BSS, VAT Online Project Director Kazi Mostafizur Rahman said the taxpayers are now paying VAT through the e-payment system with ease and comfort and also without any risk. “To make this system more popular, mobile banking services will be added for which the small business houses will be able to deposit VAT to the state coffer with ease,”

He informed that from the next month, six mobile financial services or MFS like bkash, Rocket, Nagad, SureCash and Upay would be added to the e-payment system.

Mostafizur informed since there is a certain limit of transaction in the mobile banking services, the taxpayers initially would only be able to make their VAT payments as because to pay supplementary duty or turnover tax, the VAT payers need to have e-invoice.

Meanwhile, 15 more banks will be added to the e-payment system of VAT from the next month alongside the existing three banks namely HSBC, Prime Bank and Midland Bank.

These 15 new banks include Eastern Bank Ltd, Dutch Bangla Bank, Citi Bank NA, Dhaka Bank, Pubali Bank, Mutual Trust Bank, Standard Chartered Bank, Sonali Bank, Rupali Bank, Shahjalal Islami Bank, One Bank, and United Commercial Bank Limited (UCBL).

Since last July, the number of VAT registered business establishments through online reached 1,74,802.

53
52
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail