Business Desk
The Large Taxpayer Unit (LTU) of the National Board of Revenue (NBR) has begun the task of enrolling new software manufacturer companies to implement VAT software, which opens up a huge potential for BASIS members to expand their business.
Bangladesh Association of Software Importers and Service providers (BASIS) on Saturday organized a workshop with the business entities that are eager to get enlisted to implement the VAT software.
Muhammad Mubinul Kabir, Commissioner of the Large Taxpayer Unit (LTU) Division of NBR moderated the workshop with BASIS President Syed Almas Kabir in the chiar.
Senior Vice-President of BASIS, Farhana A. Rahman, Vice-President (Administration) Shoeb Ahmed Masud, Vice-President (Finance) MushfiqurRahman, MostafizurRahamanSohel, Chairman, BASIS Standing Committee on Local Market.
While addressing BASIS President Syed Almas Kabir said, "from BASIS we appreciate the new VAT law implemented by government. This will expand the business of local software companies. At the 1st phase of making all government sectors digitalized; according to the rules of NBR, previously enlisted 11 companies have made VAT software through which the VAT of the purchased raw materials can be easily calculated".
He said the initiative will also help company owners easily determine the accurate prices including VAT of the finished product. Hence make profit out of the business. These software will properly calculate VAT part of each transaction so that NBR & companies stay on the same board.
Farhana A. Rahman, Senior Vice-President of BASIS & Coordinator of the workshop said, in addition to the inclusion of 11 companies, the National Board of Revenue has made it mandatory for large taxpayer organizations to use VAT software, so there is an ongoing process for inclusion of more VAT software companies.
Muhammad Mubinul Kabir, Commissioner of the Large Taxpayer Unit (LTU) Division of NBR, said that NBR has listed 11 software companies primarily. In order to implement VAT software, manufacturers or business entities that are newly enrolled must have a sound idea of what kind of software they have and whether they should be pre-qualified.
"In this regard, I have given guidance to the BASIS member organizations in today's workshop. I also acquired the views of the BASIS members" he added.
More than 150 BASIS members attended the workshop. In addition to exchanging views, the workshop conductor answered various questions from the honorable members.
