• Tuesday, Dec 07, 2021
  • Last Update : 09:50 am

NBR to only hire local IT firms for services

  • Published at 06:42 pm November 25th, 2021
NBR
Courtesy

NBR hopes online VAT return submission using the VAT Online System will bring 200,000 BIN-holders under the coverage of the VAT net within December

As large sums of state money are going abroad for IT services every year, the National Board of Revenue (NBR) wants to hire local firms from now on, the board chairman said on Wednesday. 

“Despite the capacity of domestic companies, a large amount of money is going out of the country every year for IT services from foreign companies. So, in the future, NBR wants to move away from buying IT services from foreign companies,” NBR Chairman Abu Hena Md Rahmatul Muneem said. 

He added that if problems arise later, some of these foreign companies are hard to trace.

Muneem said this while inaugurating the automation system of various projects of the revenue department.

NBR launched a real-time automated invoice system, that is integrated with the value-added tax (VAT) automation system, the IBAS++ (Integrated Budget and Accounting System) and the ASYCUDA (Automated System for Customs Data) to ensure hassle-free service for Business Identification Number (BIN) holders and traders.

The automated invoice system, designed by the Finance Division, will enable BIN-holders to obtain their VAT return invoices instantly using the digital payment gateway system.

At the event, the NBR chairman also said: “Online VAT return submission will be made mandatory in the upcoming budget to ensure a taxpayer-friendly service.”

He also hoped that online VAT return submission using the VAT Online System will bring 200,000 BIN-holders under the coverage of the VAT net within December, which currently stands at 183,000 out of a total 315,000 BIN holders.

Kazi Mustafizur Rahman, Commissioner of Customs Bond Commissionerate, Dhaka delivered the welcome speech at the event.

Finance Division Additional Secretary Nazma Mubarak, NBR Member (VAT implementation and IT) Abdul Mannan Shikder, NBR Member (Policy) Masud Sadiq, and other officials were also present at the event.

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