In a bid to automate the value-added tax system, the acquirement ascendancy has ordered businesses clocking added than Tk 5 crore in anniversary about-face to use software in advancement accounts and befitting tax-related records.
The National Board of Acquirement said companies would accept to install software affair belief it has set and accede with its charge from January 1, 2019 so that businesses can accouter allotment and added abstracts electronically to VAT offices.
The NBR issued an adjustment aftermost week, allurement businesses to aggregate such software.
The NBR has been bringing changes to its VAT software in band with the VAT Act 1991 in adjustment to go online.
“If businesses advance annal and accounts in an automatic system, they will be able accelerate advice to us automatically. So, the cold is to accomplish their activity easier,” said Syed Mushfequr Rahman, agent activity administrator of the NBR’s VAT Online Project.
Another ambition is to ensure abstracts candor so that none can abide affected data, he said.
However, if businesses are not able to abide allotment and almanac sales in an automatic manner, they will accept to abide affidavit manually.
The NBR said software makers would accept to administer to a five-member console headed by the abettor of the Large Taxpayers’ Unit of VAT to get approval of their software.
The software should be able of befitting annal of accounts and arising chalans (receipts).
It said software makers whose software is already actuality acclimated by businesses aloft approval from commissioners will now accept to amend it and administer to the console by September 30 for assay and listing.
The NBR affairs to automate the VAT arrangement based on the VAT Act 1991 afterwards businesses against the new VAT law affected in 2012. “We accept already accumbent the software with the VAT law of 1991. A audience on this will booty abode on Wednesday,” Rahman added.
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