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NBR is the authority for tax policies and tax laws in Bangladesh. [1] [2] NBR collects almost 97% of tax revenue and almost 85% of total revenue for the government of Bangladesh. [3] The Customs, Excise and VAT Appellate Tribunal is a tribunal under the National Board of Revenue established in 1995. [4] [5]
Anyone who collects VAT becomes a VAT Trustee if they: register and collect a Business Identification Number (BIN) from the NBR; submit VAT returns on time; offer VAT receipts; store all cash-memos; and use the VAT rebate system responsibly. VAT Mentors work in the VAT or Customs department and deal with trustees. The VAT rate is a flat 15%.
The main responsibility of NBR is to mobilize domestic resources through the collection of import duties and taxes, VAT and income tax for the government. Side by side with collection of taxes, facilitation of international trade through quick clearance of import and export cargoes has also emerged as a key role of NBR.
Customs, Excise and VAT Appellate Tribunal was established on 1 October 1995. [3] The verdicts of the tribunal can be appealed to the High Court Division. [4] It is composed of one tax officer and one judge, one of whom will be the president of the tribunal.
Bangladesh National Portal is a national portal of the People's Republic of Bangladesh under Access to Information programme [1] run by the Prime Minister's Office of Bangladesh. [2] The information portal aims to provide information about all national unions, upazilas, districts and divisions of the country. It was launched on 7 March 2015 as ...
The ministry is responsible for state finance, including the state budget, taxation and economic policy in Bangladesh. It is led by the Finance Minister of Bangladesh . The department must report to the Parliament of Bangladesh .
[4] [5] According to a study by Transparency International Bangladesh there were 23 specific incidents of corruption in the Office of the Controller General of Accounts. [6] The Office of the Controller General of Accounts sometimes collaborates with the Office of the Comptroller and Auditor General of Bangladesh. [7]
Bangladesh Customs is the principal customs agency of Bangladesh. The agency operating under the National Board of Revenue (NBR) is the lead tax collection agency in Bangladesh. [1] NBR is part of the Internal Resources Division (IRD) under the country's Ministry of Finance. The agency formulates policies concerning the levy and collection of ...