The government has exempted all edible oils including canola and sunflower oil from duty, tax and VAT until March 31, 2025, aiming to increase market supply. In order to keep the market supply stable and the prices affordable during the holy month of Ramadan, the National Board of Revenue (NBR) has again exempted duty and VAT on edible oils. NBR has issued 3 separate orders, completely exempting all existing import duties, regulatory duties and advance income tax on the import of refined and unrefined sunflower, canola, soybean and palm oil until March 31, 2025. Online VAT services to remain suspended for 96 hours: NBR Furthermore, in these orders, the value added tax payable at the local level on the sale of sunflower, canola, soybean and palm oil has been completely exempted until the specified period. Moreover, the VAT payable at the import stage of these products has been reduced from 15% to 5%. As a result, no other customs duties other than 5% VAT remain at the import stage on these products. For this purpose, three SROs have been issued (SRO No. 414-Law/2024/98- Customs Date: 12/12/2024; SRO No. 415-Law/Income Tax-59/2024 Date: 12/12/2024, and SRO No. 416-Law/2024/266-VAT Date: 15/12/2024). Previously, the two customs duty exemption notifications issued on October 17 and November 19 were applicable till December 15 in the case of soybean and palm oil. Considering the recent upward trend in the international market prices of soybean and palm oil, the validity of the three new notifications has been kept in force till March 31, 2025 to ensure regular supply of the product during the holy month of Ramadan. NBR eyes single rate VAT to curb revenue leakage, boost collection The complete withdrawal of customs duty, regulatory duty, advance tax and advance income tax on sunflower oil and canola oil and the reduction in value added tax will reduce the import cost of these oils by Tk 40-50 per liter. The National Board of Revenue in a press release hoped that all these measures will increase the supply of edible oil and as a result, the market price will be kept at a tolerable level for the general public.

The Anti-Corruption Commission (ACC) on Sunday filed six separate cases against ex-IGP Benazir Ahmed and former National Board of Revenue (NBR) official Matiur Rahman and their family members on charges of acquiring illegal wealth and concealing information about their assets. ACC Director General (Prevention) Md. Akhter Hossain told UNB about the filing of the cases.Govt working to ease public suffering: Adviser Fouzul Kabir He said that the ACC filed two cases against Matiur and his wife Shammi Akhter Shibli while four separate cases against Benazir, his wife and two daughters.  

All online VAT services, including the Integrated VAT Administration System (IVAS), will remain suspended for 96 hours due to a network migration, the National Board of Revenue (NBR) said on Monday. The suspension will commence at 7:00 am on December 19 and continue until 23 December. During this period, taxpayers will be unable to access services such as online tax payment, e-payment, and tax calculations on sales. According to the NBR, the network service vendor for the system has changed. The transition from the current vendor, Access Telecom (BD) Limited, to the new vendor, Bdcom Online Limited, requires 96 hours to fully operationalise the network. ‘Deprived officials’ stage sit-in at secretariat The NBR has urged all taxpayers, VAT officials and stakeholders to complete any urgent tasks either before or after the downtime. This transition is aimed at ensuring smoother and more reliable VAT services in the future.

The National Board of Revenue (NBR) is set to implement several initiatives aimed at reducing taxpayer hassles and enhancing revenue collection for the national exchequer. According to NBR sources, upcoming changes include the introduction of online corporate tax filing, an online tax return submission system for income tax lawyers, and a dedicated app for all taxpayers to file their income tax returns. Currently, the tax lawyers are submitting the income tax return for their clients manually. But the NBR has given importance to submitting income tax returns online to reduce the hassle of the taxpayers. But the change creates problems for the income tax lawyers. Any individual income taxpayer has to open an account in the NBR designated website to submit his/her income tax return through online. For this purpose, that individual needs to have a SIM card which is availed through biometric registration that causes trouble for tax lawyers to submit the income tax return in favour of their clients. According to an NBR high official, the revenue collecting authority has taken this matter seriously and working to solve the matter. “We are very much serious to resolve the problem for the tax lawyers and the taxpayers,” he said. Recently in a programme NBR chairman Md Abdur Rahman Khan said the revenue collecting authority is working to create a system where the income tax lawyers will be able to submit the income tax returns using their own ID and password. “By this the income tax lawyers will be able to continue their activities,” he said. The NBR has already issued an order to make online filing of income tax returns (e-Return) mandatory for government employees under the jurisdiction of income tax circles located in Dhaka North, Dhaka South, Gazipur and Narayanganj City Corporation, as well as sections of the private sector. Read: NBR strengthens security measures of Asycuda World system Online filing of income tax returns has been made mandatory for working officers/employees of all scheduled banks, all mobile telecom service providers and some multinational companies namely Unilever Bangladesh Limited, British American Tobacco Bangladesh Company Limited, Marico Bangladesh Limited, Berger Paints Bangladesh Limited, Bata Shoe Company (Bangladesh) Limited, Nestlé Bangladesh Plc. Online return filing system has been open for taxpayers since September 9 this year. From this system, taxpayers can pay taxes through internet banking, card payment (debit/credit card) and mobile banking and get the facility of downloading and printing copies of filed returns, receipts, income tax certificates, TIN certificates. Besides, anyone can download and print the e-Return filed for the previous year. A Biometric SIM registered with the national identity card of each taxpayer is required for successful registration in e-Return. Regarding the corporate tax return, various types of documents are required at present during tax return submission. The NBR chairman said that his organisation has already started the process to make it possible for the corporate taxpayers to submit their income tax returns following all procedures. Read more: NBR to gradually rationalise 60 tariff lines by 2026 “It will take some time, if we can not do that this year, we are cent percent sure that it will be done by next year where the corporate taxpayers will be able to submit their returns online,” he said. Finance Adviser Dr Salehuddin Ahmed while briefing reporters on Tuesday marking the 100th day of the interim government put empahsised on introducing online income tax return submission within the shortest possible time. The NBR is also planning to launch an app for income tax return from next year. “The taxpayers would be able to do this through the dedicated app,” Md Abdur Rahman Khan said. He said that after introducing all these matters with the running online system, the NBR would go for online income tax return submission for all taxpayers. “There may be some exceptions,” the NBR chairman said.

The National Board of Revenue (NBR) on Sunday extended the deadline for submitting income tax returns by one month till December 31. The last date of submitting income tax returns of all categories of taxpayers except companies for the tax year 2024-2025 was November 30. NBR to launch drive against corrupt officials soon Taxpayers of various professions requested the NBR to extend the deadline for filing income tax returns. The revenue authority on Sunday issued an order extending the time for submission of income tax returns by one month for both online e-return and offline filing of paper returns for all taxpayers except companies for the convenience of taxpayers. NBR Chairman vows tougher action against gold smuggling So far, 375,000 taxpayers have filed e-returns online.

The National Board of Revenue (NBR) on Monday said it has waived the income tax for Grameen Bank for the next five years to remove discrimination in this field. Grameen Bank has been enjoying the tax exemption since its establishment in 1983. But the benefits were stopped in 2020. Grameen Bank was launched by Nobel Peace laureate Prof Muhammad Yunus, currently the chief adviser of the interim government. The tax exemption until 2029 was reinstated on October 10, Thursday in a statutory order after a four-year stoppage.The NBR in a press release said that to end the existing discrimination Grameen Bank has been given the waiver on all income until December 31, 2029 on some conditions.It did not provide any details of the conditions. It mentioned that other institutions operating homogeneous microcredit programmes same as Grameen Bank are enjoying the tax benefits. However, Grameen Bank will still be required to submit annual income tax returns, as per the gazette. NBR to focus on out-of-court settlement of tax disputes to boost revenue According to the press release since the inception of Grameen Bank- established through the Grameen Bank Ordinance 1983 - the income tax was waived on any income of the said institution, exemption from paying super tax or business profit tax.Established through the Grameen Bank Ordinance, 1983 and the subsequent Grameen Bank Act, 2013, Grameen Bank is not a Scheduled Bank and the institution primarily operates microcredit activities, the NBR press release said.It said that Grameen Bank does not enjoy the same tax exemption as per the Income Tax Act, 2023, despite providing homogenous services i.e. microcredit, only because it is not registered by the Microcredit Regulatory Authority.However, Grameen Bank will still be required to submit annual income tax returns, as per the gazette.

The National Board of Revenue (NBR) is now putting its focus on settling the long pending cases through Alternative Dispute Resolution (ADR) system to boost the revenue collection. The revenue collecting authority of the country is at unease as the first two months of the running FY24-25 saw a setback in the collection due to the political unrest, officials said. A senior official of the NBR said that all commissionaretes have been asked to make a list of long pending cases which can be settled through the ADR. The NBR official said that emphasis has been given to utilise the ADR system to clear these cases. The official wished anonymity as he is not authorised to speak on the subject. In a recent meeting, NBR Chairman Md Abdur Rahman Khan asked the officials to take effective steps in this regard, said another official this week. "The NBR chairman also asked the officials to take all out efforts to realise the outstanding taxes," the NBR official said. The NBR introduced ADR on July 1, 2012 to speed up disposal of the revenue-related cases through out-of-court settlement. NBR reforms advisory committee likely to start work next week despite some confusions ADR is a tool that parties can use to settle disputes with the help of a third party. It is used for disagreeing parties who cannot come to an agreement short of litigation. However, ADR is also increasingly being adopted as a tool to help settle disputes within the court system. The NBR chairman has asked the  officials concerned to expedite the Alternative Dispute Resolution (ADR), the NBR official told UNB. Another senior official of the NBR said that as per the law taxpayers have to apply to resolve the tax related disputes. He mentioned that some taxpayers always try to evade tax and feel encouraged to settle the matter in the courts.  He also said that those who failed to make any headway in the courts usually come to the ADR system for resolving their disputes. An NBR official involved in the ADR said that due to the reluctant attitude from the businesspeople of the country the system is yet to give its full swing benefit for them and also for the national exchequer. "The NBR has taken various types of initiatives to vibrant the system, and a former NBR member has been appointed after forming a neutral cell for this system," he said. The NBR chairman, while talking to reporters recently, said ADR is a system where both parties can avail a win-win chance. NBR accelerates efforts to clear revenue case backlog He mentioned that if the taxpayers and tax authority do not come to a consensus then there is nothing to do in this ADR system. “For that reason many do not want to go to the ADR process,” he said. In this connection, the NBR chairman pointed out the reluctant attitude of taxpayers and tax collecting authority as they both want to win it all. “In ADR system both have to compromise or both have to sacrifice, that is the meaning of the ADR,” he said. The chairman  mentioned that those who are involved in the ADR are very much experienced and know the law very well. “They try to convince both parties to come for a consensus. If the taxpayers and tax collecting authority do not want to go for a long legal battle then ADR is the best option,” the NBR chairman said. As per available data, there are more than 27,000 cases pending in various courts related to income tax, Vat and duty involving not less than Tk 39,000 crore. Read more: How to file your Tax Returns in Bangladesh

The National Board of Revenue (NBR) on Wednesday reduced the regulatory duty on both refined and raw sugar imports by 50 percent to stabilize the local market prices. The duty has been cut from 30 percent to 15 percent, effective immediately. NBR explained that this measure is intended to make sugar prices more bearable for consumers.  It pointed out that various global and domestic factors have contributed to the recent rise in the prices of daily essentials, including sugar. Due to the global war, political unrest, and the significant devaluation of the Bangladeshi currency, prices of several essential goods have escalated. Items such as baby food are also becoming increasingly unaffordable for the common man, NBR noted. It further said that recent student protests and the ongoing flood situation have added additional pressures, driving prices of essential items even higher. NBR accelerates efforts to clear revenue case backlog As a result of the 15 percent reduction in regulatory duty, the customs duty on raw sugar now stands at Tk 11.18 per kg, while refined sugar is taxed at Tk 14.26 per kg at the import level. The NBR expects the price of sugar to decrease by a similar amount at the consumer level.  The NBR also expressed hope that lowering the customs duty will discourage sugar smuggling through illegal channels and boost legal imports.  According to the available data, the annual consumption demand for sugar in Bangladesh is 2 to 2.2 million tonnes where Only 1.5 per cent of the country’s demand is met with locally produced sugar. Meghna Group of Industries (MGI) and City Group are the two main importers of sugar followed by S Alam Group, Abdul Monem Ltd and Deshbandhu Sugar Mills. At present, these five private sugar mills imports more than 98 percent of the country's annual demand for refined sugar, whereas the raw sugar mostly sourced from Brazil.

Detectives of Dhaka Metropolitan Police (DMP) arrested former Prime Minister’s Principal Secretary and also former National Bureau of Revenue (NBR) Chairman Nojibur Rahman from Ramna area of Dhaka on Sunday night, said authorities. Rezaul Karim Mallik, additional deputy commissioner (ADC-DB) of the DMP confirmed the matter to media. Read: Ex-AL lawmaker Shahidul Islam arrested: DB He informed that the arrestee will be produced before a Dhaka court on Monday. Nojibur served as the PMO principal secretary and NBR chairman during the rule of ousted prime minister Sheikh Hasina. Read more: DB arrests ex-food minister Sadhan Chandra from Dhaka’s Bhatara

The National Board of Revenue (NBR) is proactively seeking solutions to address pending revenue-related cases in courts across the country, aiming to enhance revenue collection. “We are moving to clear the cases to increase revenue collection,” a senior NBR official told UNB.  He said that revenue collection in July and August saw a significant setback due to the prevailing situation in the country. The NBR is under pressure from the International Monetary Fund (IMF) to boost its revenue collection by closing all loopholes, as Bangladesh has sought an additional USD 3 billion in budgetary support, apart from the USD 4.7 billion loan. According to NBR data, the revenue collection shortfall for the first two months of the current fiscal year was around Tk 16,000 crore. The target for this period was Tk 57,000 crore, but the actual collection amounted to around Tk 41,000 crore. The revenue collection target for the 2024-25 fiscal year is set at Tk 480,000 crore. Due to political unrest, economic activities have slowed and imports have declined, contributing to a decrease in revenue collection. To address this, the NBR is working to resolve more than 27,000 cases related to income tax, VAT, and duty, involving not less than Tk 39,000 crore.  “This is not a negligible amount, and it is increasing daily as revenue-related cases in courts continue to rise,” another senior NBR official told UNB. NBR Chairman Abdur Rahman Khan recently held a meeting with field-level officials, instructing them to expedite the settlement of revenue-related cases. The NBR Chairman directed officials in the Appellate Tribunal and High Court Division to complete the necessary preparations and resolve these cases quickly to contribute a significant amount of revenue to the national exchequer. Read: NBR forms task force to reform income tax law A senior NBR officer who attended the meeting said instructions were given to prioritise recovering the revenue stuck in these cases. Speaking to reporters after a recent event, the NBR Chairman emphasised the government’s commitment to reducing the backlog of cases in the courts. He noted that a separate bench in the High Court deals with NBR-related cases. He also highlighted the success of the Alternative Dispute Resolution (ADR) mechanism in handling VAT and tax-related cases, saying, “They are working well.” Meanwhile, an International Monetary Fund (IMF) mission led by Chris Papageorgiou visited Dhaka from September 24-30 to discuss recent developments and the authorities’ reform priorities. The IMF is reportedly dissatisfied with Bangladesh’s revenue collection performance. The visiting delegation enquired about the reasons for the decline and sought details on the tax rebates granted so far. Read more:NBR seeks suspension on transfer of shares of 7 conglomerates The IMF delegation held a meeting with NBR Chairman Abdur Rahman Khan and members, followed by separate meetings with officials from the Income Tax, VAT, and Customs departments at the NBR headquarters in Agargaon. According to NBR sources, the revenue shortfall for the last fiscal year (2023-24) was Tk 27,500 crore, drawing concern from the IMF. The IMF advised the NBR to develop a new revenue collection plan and inquired about the number of duty-tax waivers granted in recent years. They recommended reducing these waivers to a reasonable level and emphasized strengthening the automation system, offering assistance in this area. The IMF also requested a short- and medium-term strategy paper on fiscal sector reforms and offered support in developing the plan. Read more:NBR scraps mandatory physical inspection of imports from Pakistan Bangladesh is currently under a USD 4.7 billion loan program with the IMF, with three installments already released. Discussions are underway for an additional USD 3 billion loan.