Dhaka, Feb. 26 -- The National Board of Revenue (NBR) has simplified the VAT (Value added tax) refund process for the superstore businesses by waiving the requirement to furnish details on the use of raw materials.

Usually, manufacturers are supposed to submit 'input-output coefficient' to the VAT officials showing how much of the imported raw materials is used to manufacture a finished product.

The provision was also applicable for super shop owners too. Under the provisions, the super shop owners have to submit a declaration form to claim rebate.

The process is cumbersome as many of the businesses alleged use of discretionary power of the VAT officials to accept the coefficient and allow refund of paid VAT on procurement of raw mater...