Dhaka, Dec. 7 -- Genex Infosys forecasts its IT business to triple in the next five years on the back of three deals signed in recent times.

The 10-year deal to help the National Board of Revenue boost its VAT collection countrywide is likely the biggest one, finalised last month. It requires Genex Infosys to install electronic devices and sales data controllers at the company's own expense of Tk 10 billion.

In return, Genex will receive a commission of 0.53 per cent on VAT collected meaning its revenue will grow in tandem with the rise in VAT collection, said Md Jewel Rashed Sarker, chief financial officer (CFO) of the firm.

The agreement with the NBR is expected to generate revenue of Tk 2.12 billion per year upon the full-scale roll...