The National Board of Revenue (NBR) will honour 9 firms on the National VAT Day for paying highest amount of Value Added Tax (VAT).
The VAT department of the National Board of Revenue (NBR) on Wednesday released a list of awardees. Earlier the Economic Relations Division (ERD) published a gazette notification in this regard.
Read:NBR to organize month-long tax support service from Nov 1
December 10 is celebrated as the National VAT Day every year. The NBR will honour the highest tax payers of the fiscal year 2019-20 on this day.
Nine firms under three categories- production, business and service- will receive the awards at a ceremony in Dhaka.
The list of awardees includes Aristopharma Limited, Square Toiletries Limited and Maya Bidi Factory under the production category, SM Motors, AMCO Bajaj International and Union Motors Limited under business category and IDTCO Bangladesh Co. Ltd. Gray Advertising Ltd. and Robert Boss (Bangladesh) Ltd under service category.
The VAT department of the National Board of Revenue has been regularly honoring the top VAT payers for several years.
Read: NBR directs big push to reach the revenue target for current fiscal
Business establishments which have Electronic Business Identification Number (EBIN), issue regular VAT receipts to the consumers and regularly deposit the collected VAT money in the government treasury are considered eligible for the award.
NBR will also honour 102 companies in the three categories as the top VAT payers at the district level.