TIN, VAT registration may go digital
The registration of taxpayer identification number (TIN), value-added tax (VAT) and business identification number (BIN) are expected to go online, as the National Board of Revenue aims to introduce the system by November 30 on a trial basis.
The core committee on building a Digital NBR held a meeting on October 22, chaired by M Farid Uddin, member (customs and VAT administration).
The online system will be introduced to reduce unnecessary costs for new businesses during their registration with the Office of the Registrar of Joint Stock Companies and Firms (JSCF).
JSCF Registrar Ahmedur Rahman was present at the meeting to discuss ways to collaborate on the issuance of online TIN and BIN from a single window.
“It will do it using the JSCF's existing infrastructure before launching its automation programmes,” said an official.
Under its different projects, the NBR is carrying out its automation programmes and will soon start full automation to reduce the hassles of taxpayers.
The digitisation of the NBR is aimed at ensuring an investment-friendly environment, as tax measures are interlinked with the investment scenario.
Once the plan is implemented, the NBR will also able to issue TIN certificates and BIN online.
The meeting decided to add new forms to the existing ones for online company registration in the RJSC's website where new businesses would fill in necessary information for obtaining TIN and BIN while registering their companies with the RJSC.
On September 3, NBR signed an memorandum of understanding with the International Finance Corporation (IFC), a member of the World Bank Group, to establish connectivity with all commercial banks, national ID authority, Bangladesh Telecom-munication Regulatory Commission and all field offices of VAT, income tax and customs for improving its efficiency in delivering services to the people.
The IFC will provide technical assistance to implement the plan, the primary objective of which is to simplify, streamline and automate a number of government-to-business (G2B) services.
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