, Jan. 7 -- The National Board of Revenue (NBR) on Wednesday launched an automated online Value Added Tax (VAT) refund system, enabling refunds to be transferred directly to taxpayers' bank accounts.

NBR Chairman Md Abdur Rahman Khan formally inaugurated the system by transferring Tk 45.35 lakh in VAT refunds to the bank accounts of three taxpayers under three Dhaka-based VAT commissionerates through the new electronic platform.

The NBR chairman said the authority has initially digitised the existing manual refund procedure to ensure continuity, with plans to simplify the process further through legal and regulatory changes if required.

"We have first taken the existing manual process and converted it into an electronic system. Once th...