The Large Taxpayers Unit (LTU) and Value Added Tax (VAT) of National Board of Revenue (NBR) has honored BAT Bangladesh as the highest taxpayer for the fiscal year 2020-21.
BAT Bangladesh received the award at a ceremony held in Dhaka Regency Hotel on Sunday (12 December), said a press release.
Commissioner of LTU-VAT Wahida Rahman Chowdhury handed over the awards to the companies.
The accolade was received by Shehzad Munim, managing director and Sheikh Shabab Ahmed, head of External Affairs of BAT Bangladesh.
While receiving the award, Shehzad Munim said that a healthy relationship between taxpayers and tax collectors will take the country forward.
"The LTU-VAT has gone through a massive change in the last two years. A remarkable working relationship has developed between taxpayers and the LTU which is a positive sign for the country. Under the leadership of the current commissioner, the institution is proving itself to be a solution giver to the taxpayers," said Shehzad.
According to the press release, in the fiscal year 2020-21, BAT Bangladesh deposited around Tk 25,000 crore to the National Exchequer as Value Added Tax (VAT) and Supplementary Duty (SD). VAT is the largest source of internal revenue.
In the aforementioned fiscal year, the NBR collected around Tk 97,000 crore as value added tax out of which, LTU-VAT alone collected around Tk 49,000 crore (more than 50% of total VAT collection).
BAT Bangladesh contributed more than half of LTU-VAT's total revenue. Besides VAT, the company deposited around Tk 900 crore as income tax. Altogether, the company contributes almost 10% of total internal revenue of the country.