According to officials from the National Board of Revenue (NBR), a new initiative is underway to mitigate revenue losses. The tax authority has identified more than 10,000 businesses that conduct monthly transactions of over Tk10 lakh. These entities are considered vulnerable to revenue leakage, and the NBR plans to increase oversight to ensure proper VAT collection.
Economy
NBR to monitor 10,000 firms to curb VAT evasion
The National Board of Revenue is targeting over 10,000 businesses with monthly transactions exceeding Tk10 lakh to address potential VAT leakages.
Source: The Business Standard