POST TIME: 3 September, 2018 00:00 00 AM
NBR intensifies move to collect revenue under LTU

NBR intensifies move to collect revenue 
under LTU

National Board of Revenue has intensified its move to collect the outstanding Value Added Tax (VAT) under the Large Taxpayer Unit (LTU) aimed at achieving the revenue collection target for 2018-19 fiscal, reports BSS.

“As part of the move, NBR has sent letters to the large taxpayers for paying their due within a short time. NBR has also taken necessary steps to settle the pending cases quickly,” VAT LTU Commissioner Muhammad Mubinul Kabir told the news agency on Saturday.

He said NBR will also take legal action against the taxpayers, if they fail to pay the outstanding VAT within a short time.

“More than Tk 15,000 crore VAT is outstanding under the LTU. Many business entities collect VAT from their customers, but does not deposit in the government treasury,” he added.

He hoped that the move will help achieving the target of revenue collection for 2018-19 fiscal.