More VAT software makers being listed

The National Board of Revenue's large taxpayer unit (LTU) has recently asked software companies to get listed with it if they were interested in providing programmes enabling businesses to maintain accounts and keep records of value-added tax (VAT).

Over 100 companies expressed their interest at a workshop organised by the Bangladesh Association of Software and Information Services (BASIS) on its premises yesterday.

Currently only 11 companies are listed to provide software meeting criteria of the revenue authority as part of its bid to automate an online VAT system and implement the new VAT law.

LTU Commissioner Muhammad Mubinul Kabir said those seeking to get listed must have a sound idea on the type of software required. 

BASIS President Syed Almas Kabir said they appreciated the new VAT law for the scope it gave to local software companies for expanding business. 

He said the type of software defined by the NBR also enables VAT payment to government coffers while helping businesses to easily determine accurate prices, including VAT for every transaction, of finished products. 

BASIS Senior Vice-President Farhana A Rahman, Vice-President (administration) Shoeb Ahmed Masud, Vice-President (Finance) Mushfiqur Rahman, BASIS Standing Committee (local market) Chairman Mostafizur Rahaman Sohel were present.