Dhaka, April 25 -- The National Board of Revenue (NBR) is contemplating to introduce a system to account its officers for skipping any business entity without enlisting that in the Value Added Tax (VAT) net.

For this purpose, the existing VAT law has to be changed.

The revenue collecting authority is thinking to implement this plan aiming to induct every business entity having Tk 50 lakh turnover early under the VAT net.

It has reduced the amount from Tk 3 crore in last January.

NBR lifts 5pc advance import tax on crude soybean and palm oil

Currently, the NBR is under huge pressure from the International Monetary Fund (IMF) to improve the revenue collection to increase the tax-GDP ratio to 7.9 percent by next June, which is currently...