Dhaka, Jan. 7 -- The National Board of Revenue (NBR) on Wednesday launched an automated online Value Added Tax (VAT) refund system, allowing refunds to be transferred directly to taxpayers' bank accounts, a move considered as ending long-standing delays and harassment in the refund process.

NBR Chairman Md Abdur Rahman Khan formally inaugurated the system by transferring Tk 4.53 million (Tk 45.35 lakh) in VAT refunds to the bank accounts of three taxpayers from three Dhaka-based VAT commissionerates through the electronic platform, reports BSS.

Speaking at the launch event at the NBR conference room at its revenue Bhaban in the capital's Agargaon, the NBR chairman said the authority has initially replicated the existing manual refund pr...