VAT fair to be held in Chattogram from 10-11 March

The Customs, Excise and VAT Commissionerate, Chattogram is organising a two-day VAT fair in Chattogram, from 10-11 March, for the third time this year.

Eight divisions of the Customs, Excise and Vat Commissionerate – Agrabad, Chattala, Chandgaon, Rangamati, Khagrachhari, Patia, Cox's Bazar, and Bandarban – are taking part in the fair.

This information was stated by VAT Commissioner Mohammad Akbar Hossain at a press conference held in the conference room of the VAT Commissionerate in Agrabad on Tuesday.

"Due to the last two fairs, VAT return submissions have increased to 65%. This time, the target of the fair is to increase it by 10% and make it 75%. We believe that we can gradually increase the VAT returns to 100%," said the commissioner.

At the press conference, the VAT commissioner said that traders have especially benefited from the last two fairs.

"We are delivering the service to the doorsteps of the people through VAT booths. We have installed 400 more EFD [electronic fiscal device] machines this month. There are 520 EFDs currently in operation in Chattogram. The draw for EFD invoices is held on the 5th of every month, where 101 prizes are awarded under the VAT Commissionerate across the country," he added.

Highlighting the data of the last two VAT fairs, the VAT commissioner said that some 2,374 returns were submitted at the VAT fair held in Chattogram for the first time on 11-12 January. Some 284 organisations registered for the first time and the revenue collection was around Tk19 crore.

After that, on 10-11 February during the second edition of the fair, some 3,243 returns were submitted, and some 342 applications for new registration were received and revenue of around Tk32 crore was collected.

Among others, Joint Commissioner Mushfiqur Rahman and Mohammad Selim Sheikh were present at the press conference, along with Deputy Commissioner Kamonashish, Md Shahinur Kabir Pavel and Fatema Khairun Nur.