The National Board of Revenue (NBR) last month launched an e-payment system to pay value added tax (VAT) directly from a bank account. Mobile banking services are being added to make this system easier and more popular. This will allow any business to easily pay VAT using bKash, Rocket or Cash.
The revenue administration launched the e-payment system on July 16 under the VAT online project. Businesses are now filing returns online as well as paying VAT. The NBR hopes that with the addition of mobile banking services, merchants will be more interested in e-payment.
In this regard, Kazi Mostafizur Rahman, Project Director, VAT Online Project, said that taxpayers are paying VAT easily and risk-free in the e-payment system. Mobile banking services are being added to make this system more popular. In this way, small businesses can easily deposit VAT money in the state treasury. From next month, a total of six mobile financial services or MFSKs including bKash, Rocket, Cash, SureCash, UPS will be added to the e-payment system.
Mostafizur Rahman further said that as there is a limit on mobile banking transactions, only VAT will be charged through mobile banking at the initial stage. E-invoice is required for payment of turnover tax and supplementary duty, hence turnover tax and supplementary fee will not be collected through it at the initial stage. From next month, a total of 8 mobile financial services or MFSKs including bKash, Rocket, Cash, SureCash, UPS will be added to the e-payment system.
HSBC, Prime and Midland are the first three banks to be included in the e-payment system. Another 15 banks will be added to the e-payment system next month. Among them are Eastern Bank Limited, Dutch-Bangla Bank, City Bank NA, Dhaka Bank, Purbali Bank, Mutual Trust Bank, Standard Chartered Bank, Rupali Bank, Sonali Bank, Shahjalal Islami Bank, One Bank and United Commercial Bank Limited. UCB).