The National Board of Revenue (NBR) has introduced a new initiative allowing taxpayers to apply for VAT refunds online through the e-VAT system. Once verified, the refunds will be transferred directly to their bank accounts.
NBR has taken a major step to ease long-standing difficulties for taxpayers seeking VAT refunds and eliminating the need for in-person visits and speeding up the process, says a press release.
To facilitate this, NBR has integrated a new refund module into the e-VAT platform. The system is connected with the finance ministry’s iBAS++ platform and linked to Bangladesh Bank’s BEFTN (Bangladesh Electronic Fund Transfer Network), ensuring that refunds are automatically credited to the designated bank accounts.
The online VAT refund service was inaugurated on Wednesday when NBR Chairman Abdur Rahman Khan transferred Tk 45.35 lakh directly to the bank accounts of three taxpayers under the three VAT commissionerates in Dhaka. The event was attended by representatives of the taxpayers and members of the media.
According to NBR sources, taxpayers can now submit refund applications while filing their monthly VAT returns online. Once the relevant VAT commissionerate completes verification and processing, the refund will reach the taxpayer’s bank account without any additional in-person visits.
NBR officials said the new system will increase transparency in the refund process and significantly reduce processing time. Taxpayers will no longer need to visit VAT offices to collect refunds.
The authority advised taxpayers to contact their respective VAT commissionerates for guidance or additional information.
The NBR emphasised that taxpayer cooperation is crucial for the ongoing digitalisation of tax administration.
The authority hopes the initiative will establish a more taxpayer-friendly and accountable tax system in Bangladesh.
