NBR names 9 highest VAT payer firms
The National Board of Revenue (NBR) today named nine firms for payment of highest amount of Value Added Tax (VAT) nationally in respective sectors for the fiscal year 2019-20 in an effort to encourage businesses to deposit the indirect tax paid by consumers properly to the state coffer.
Additionally, it announced 102 firms for depositing largest amount of VAT at district level, according to two separate notifications issue by the NBR.
The NBR plans to honour top nine firms nationally on December 10 at a ceremony, said a senior official of the NBR, the main collector of revenue for the state.
Finance Minister AHM Mustafa Kamal is expected to handover the award to the nationally biggest VAT payers, he said
This is going to be the 16th year the NBR will honour businesses to ensure compliance of businesses and to increase tax receipts from domestic economic activities.
VAT, which is paid ultimately by consumers, is the biggest source of revenue for the NBR.
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