Dhaka, Nov. 10 -- The National Board of Revenue (NBR) has launched an Online VAT Refund Module to facilitate the online submission, processing, and direct transfer of VAT refund amounts to taxpayers' bank accounts.

Through the introduction of the new module, a digital linkage has been established between the existing Integrated VAT Administration System (iVAS) and the Ministry of Finance's iBAS++ system. This will enable the transfer of approved VAT refunds directly to the designated bank accounts of taxpayers through the Bangladesh Electronic Fund Transfer Network (BEFTN).

Using the Online VAT Refund Module, a taxpayer will be able to submit a claim for VAT refund online through their VAT return. After receiving the application online,...