NBR honours 144 top VAT payers

The National Board of Revenue (NBR) on Monday awarded a total of 144 business entities across the country for depositing highest amount of Value Added Tax (VAT) with the national exchequer in fiscal year 2016-17.

Of them, nine top VAT payers receive the national-level awards while the rest 135 were honoured at the district level.

Finance Minister AMA Muhith handed over crests among the recipients at Bangabandhu International Conference Centre marking the National VAT Day.

Of the national-level top VAT payers, Titas Gas Field, Habiganj Gas Field and Srikail Gas Field (Bapex) received the award in the production category while Orion Infrastructure Limited, TUV SUD Bangladesh Private Limited and Somoy Media Limited  in the service category and SC Jonson (Pvt) Limited, Wartsila Bangladesh Limited and KCJ and Associates Limited under the business category.

District-level VAT award recipients include Sayeman Beach Resort Ltd, Swapan Chemical Works, Kiswan Snacks Ltd, Matribhander, Walton Plaza, Modern Plywood and Wood Processing Co, Christian Service Society, Safe N Save, SKS Inn, M/S Bajaj Palace, Asian Paints (Bd) Ltd, Nishan Biscuit and Bread Factory, Alauddin Hotel and Restaurant, Chowdhury Tea Warehouse, AM Channel Ltd, Aztek Pharmaceuticals Ltd, Khan Bajaj Centre, M/S Lily Motors, TVS Corner, Akash Foam Industry, Square Pharmaceuticals Ltd, Ad-Din Printers, Niloy Motors Ltd, Sardar Plastic Industry, Gowsia Hotel and Restaurant, Berger Paints Bangladesh Ltd, Media Axis, Unimart Ltd, Bangladesh Parjatan Corporation, Naogaon Palace, Bashundhara Industrial Complex Ltd, Akij Bidi Factory Ltd, Narsingdi Gas Fields, Kazi and Kazi Tea Estate Ltd, Sikder Chemical Works, Linday Bangladesh, JB Refinery Ltd, M/S North Bengal Trading, Hotel Poshur, Hotel Hillview Abashik, M/S Taj Hotel and Restaurant, Meghna Gas Fields, Mohammadi Electric Wares and Multi Products (MEP) Ltd, Hotel Grand Park, Shahbajpur Gas Field, Nurani Jarda Factory, Hanif Highway Hotel and Motel Complex, Fulkoli Food Products Ltd and Highway Inn Ltd.

Last year, some 149 top VAT-paying business entities were honoured by the NBR.

Speaking on the occasion, Muhith said the new VAT law will be fully implemented in three phases after 2020.

He also said they have taken some initiatives to ease the VAT and tax system so that people can pay these easily.

The finance minister also distributed prizes among the winners of an essay competition arranged on the occasion.

President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Shafiul Islam lamented that Bangladesh moved only one notch up to 176th position among 190 economies in a global ranking on the ease of doing business prepared by the World Bank Group. “We don't want to see such position.” 

Mentioning that Bangladesh is economically doing well where private sector is playing a vital role, he urged the government to work in consultations with all.

The FBCCI president also underscored the need for putting emphasis on technology.

Anti-Corruption Commission Chairman Iqbal Mahmood said everyone who has capacity must pay VAT and tax.

He also urged the government to increase awareness among people in this regard.

NBR Chairman Mosharraf Hossain Bhuiyan who presided over the function urged the affordable persons to pay VAT and tax regularly. 
Source: http://unb.com.bd

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