NBR Urges Businesses to Adopt Digital Tax System
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The National Board of Revenue (NBR) has urged businesses to actively participate in the digitization of tax and VAT systems to ensure transparency and ease of doing business.
- The National Board of Revenue is emphasizing the complete digitization of tax and VAT processes.
- Using digital systems will reduce the hassle of visiting tax offices and prevent harassment for businessmen.
- While welcoming the initiative, business leaders demanded simpler online systems for small traders.
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The National Board of Revenue (NBR) has urged business owners to adopt digital methods for paying taxes to make the country's revenue collection system simpler and more transparent. During a recent meeting, NBR officials stated that a fully digital tax system would eliminate the need for businessmen to visit tax offices, saving them from potential harassment.
The government has been working on modernizing the tax system for some time. As part of this initiative, online VAT registration, e-return filing, and e-TIN services have been introduced. The NBR believes that if businesses utilize these digital services, government revenue collection will increase, and tax evasion will be prevented.
Business leaders have welcomed the initiative but pointed out that many small traders are not yet skilled in using computers or online systems. They emphasized the need to simplify the process and provide necessary training for them. They also demanded that online forms be made easier for businesses to fill out.
Economists believe that a fully digitized tax system will significantly improve the ease of doing business in the country. This, in turn, will attract more foreign investors to Bangladesh. However, to make this service successful, it is crucial to ensure that internet and technological services are easily accessible to everyone.
“Digitizing the tax system is a timely necessity. While it will increase government revenue and reduce harassment for businesses, the NBR must remember that not all business owners are tech-savvy. Therefore, the online system needs to be highly user-friendly so that everyone, from small shopkeepers to large industrialists, can use it without external assistance.”
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