Muhith for bringing 5 lakh establishments under VAT

Economic Correspondent: Finance Minister Abul Maal Abdul Muhith has set a target for National Board of Revenue (NBR) to bring 5,00,000 establishments under VAT registration network by 2021.

The minister made the comment while addressing a seminar organised by NBR in observance of VAT DAY-2016 at its Agargaon office in the capital on Sunday.

Speaking at the seminar, Muhith said, "There are 80 lakh eligible establishments in the country but only 50,000 of them have VAT registration. It is a matter of shame for us. We will have to come out from it. We will have to increase the VAT registration.”
 
I hope the VAT officials will set an example to fulfill the target bringing 5,00,000 establishments under VAT registration network by 2021, he added.

Muhith urged the VAT officials to work hard to bring all eligible establishments under VAT net.

NBR also honoured a total of nine highest VAT payers and handed over crests and certificates to 21 institutions for the fiscal year 2014-15 at the programme.

NBR chairman Md Nojibur Rahman chaired the seminar while commerce minister Tofail Ahmed, state minister for finance and planning MA Mannan, FBCCI`s first vice-president Shafiul Islam Mohiuddin and VAT member of NBR Rezaul Hasan, among others, spoke on the occasion.

risingbd/Dhaka/Dec 11, 2016/Nasir/Amirul