VAT payment through mobile banking begins next month

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The Nationwide Board of Income (NBR) goes to introduce cell banking providers from the subsequent month to make the VAT fee system extra easy and in style.
As soon as it’s launched, any enterprise agency would be capable to make VAT fee with ease and luxury by way of utilizing cell monetary providers like bkash, Rocket, and Nagad.
Earlier on July 16, the Income Board launched e-payment system for paying VAT by way of on-line straight from the Financial institution accounts underneath the VAT On-line Mission. With this, the enterprise institutions at the moment are paying VAT by way of on-line alongside submitting their VAT returns.
NBR officers stated if the cell banking providers are added to the VAT fee system, the companies would really feel extra inspired to make use of the e-payment system for paying VAT.
Speaking to BSS, VAT On-line Mission Director Kazi Mostafizur Rahman stated the taxpayers at the moment are paying VAT by way of the e-payment system with ease and luxury and in addition with none danger. “To make this method extra in style, cell banking providers will probably be added for which the small enterprise homes will be capable to deposit VAT to the state coffer with ease,”
He knowledgeable that from the subsequent month, six cell monetary providers or MFS like bkash, Rocket, Nagad, SureCash and Upay can be added to the e-payment system.
Mostafizur knowledgeable since there’s a sure restrict of transaction within the cell banking providers, the taxpayers initially would solely be capable to make their VAT funds as as a result of to pay supplementary obligation or turnover tax, the VAT payers have to have e-invoice.
In the meantime, 15 extra banks will probably be added to the e-payment system of VAT from the subsequent month alongside the prevailing three banks specifically HSBC, Prime Financial institution and Midland Financial institution.
These 15 new banks embody Jap Financial institution Ltd, Dutch Bangla Financial institution, Citi Financial institution NA, Dhaka Financial institution, Pubali Financial institution, Mutual Belief Financial institution, Commonplace Chartered Financial institution, Sonali Financial institution, Rupali Financial institution, Shahjalal Islami Financial institution, One Financial institution, and United Business Financial institution Restricted (UCBL).
Since final July, the variety of VAT registered enterprise institutions by way of on-line reached 1,74,802.

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