NBR moves to strengthen online VAT system
The revenue authority has taken an additional step to ensure that its online VAT system will be fully secure from cyber attacks once it goes live next fiscal year, officials said.
The National Board of Revenue will now draft in an IT firm from abroad with accreditation and certification on cyber security to verify the security features of the integrated VAT administration system, known as IVAS software.
“We want to be sure that the in-built security features are robust enough to protect the digital VAT system from cyber criminals,” said a senior NBR official.
The move comes in the wake of a cyber heist of $101 million from Bangladesh Bank's account with the New York Federal Reserve Bank and a series of card frauds in the capital.
Following the incidents, policymakers have suggested the revenue authority ensure full security of the online VAT system.
The IVAS software, which is currently being developed by Vietnam-based FPT Information Systems, is expected to be fully up and running by December next year. Various tasks such as VAT registration, return submission and payments can be done through it.
It will integrate the 340 VAT offices dotted across the country as well as the central bank, the Office of the Comptroller and Auditor General and the income tax department of the tax administrator.
Under the circumstances, ensuring complete security of the online VAT system is critical.
The NBR official said the verification of security features through a third party, however, was not included in the Tk 551 crore-project taken up by the government.
Of the total project cost, the World Bank will provide Tk 450 crore.
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