Dhaka, Dec. 3 -- Making the payment of value-added tax (VAT) above Tk 1.0-million mark must be done electronically or by A-chalan from January under an order meant for plugging revenue evasion.

This edict of government's revenue authority has drawn down the ceiling of cash transaction of VAT from the current Tk 5.0 million to one million for businesses to promptly deposit the collected VAT with proof of treasury chalan.

The VAT policy wing under the National Board of revenue (NBR) issued the order recently by revising the cash-payment limit downward in a bid to ensure recorded transaction of VAT.

Talking to the FE, Zakia Sultana, member of the wing, who signed the order, said, "The move is aimed at popularizing electronic payment among...