Dhaka, Nov. 10 -- The National Board of Revenue (NBR) has introduced a new Online VAT Refund Module to make the process of applying for and receiving VAT refunds more efficient, transparent and fully digital.

The system will enable VAT-registered taxpayers to apply for refunds, have their claims processed, and receive their due amounts directly into their bank accounts through the Bangladesh Electronic Fund Transfer Network (BEFTN), eliminating the need for physical visits to VAT offices, said a press release on Monday.

The new module is integrated with the existing Integrated VAT Administration System (iVAS) and linked to the Finance Division's iBAS++ platform.

Once a refund is approved by the relevant VAT Commissionerate after necess...