The government has cancelled the facility that allowed businesses to file VAT returns and pay tax every three months. Under the old rule, traders will once again have to file VAT returns and pay the applicable tax every month.
A draft amendment to this effect was approved on Monday at the 22nd cabinet meeting, chaired by Prime Minister Tarique Rahman at the Secretariat, the Cabinet Division said in a press release.
The draft, proposed by the Internal Resources Division, amends section 64 of the Value Added Tax and Supplementary Duty Act, 2012.
Under the amendment, instead of submitting returns within 15 days after every three tax periods, VAT returns must now be filed within 15 days of the end of each tax period. If the 15th day falls on a public holiday, the return may be filed on the next working day.
Government, semi-government and autonomous bodies, banks, insurance companies and people or firms filing nil returns will be able to submit their returns within 20 days of the end of the tax period.
বাংলায় মূল প্রতিবেদন পড়ুন · Read the original Bengali report