Staff Reporter :
The Customs, Excise and VAT Commissionerate, Dhaka South is playing leading role in bringing traders under Value-Added Tax (VAT) net in the last fiscal year (2020-21).
Among the eleven commissionerates, Dhaka South has achieved 112 per cent year-on-year growth in registering VAT during the time.
The number of VAT-registered businesses has increased to 72,142 in the last fiscal year and the number is likely to cross one lakh by the end of this year, if the trend continues, officials said.
The number was 34,050 in the previous fiscal year (2019-20) and the commissionerate brought new 38,092 traders under VAT net in the last fiscal.
The VAT registration goes up by 69 per cent to 2,82,200 from 1,67,169 in the eleven commissionerates in the 2020-21 FY, according to a data prepared by the National Board of Revenue (NBR).
Some 1,15,031 businesses have been brought under the VAT registration by the eleven commissionerates during the aforesaid period, the data said.
Meanwhile, the Customs, Excise and VAT Commissionerate, Dhaka North has obtained the second highest position in registering VAT or BINs and the number has increased to 43,169 from 25,116 during above mentioned time.The commissionerate brought 18,053 business entities under VAT net with 72 percent growth during this period, the data showed.
On the other hand, the VAT registration has jumped up to 31,972 from 21,010 in the Customs, Excise and VAT Commissionerate, Dhaka West area while 30,304 from 21,014 in Chattogram VAT Commissionerate during the time.
Besides, the VAT registration increased to 19,925 from 11,402 in the Customs, Excise and VAT Commissionerate, Dhaka East in the last fiscal year.
SM Humayun Kabir, Commissioner of the South Commissionerate, told The New Nation on Sunday, “A huge number of unregistered traders have been brought under VAT net in Dhaka south area in the last one year as per the directives of incumbent NBR chairman.”
“The NBR chairman pointed out some important markets and places in the Old Dhaka and directed us to conduct surveys in there,” he said.
“We therefore have conducted a survey in the places and found that a huge number of traders were out of VAT registration. Followed by the surveys, we brought them under VAT net,” the commissioner said.
In the last fiscal year, the number of submissions of online returns increased as well as revenue collection.
