Chattogram VAT fairs bear fruits
The first VAT fair in the port city, in January, collected Tk19 crore, in February Tk32.3 crore and in March Tk35.77 crore
The amount of value-added tax (VAT) collection and VAT returns submissions at VAT fairs – organised every month by the Customs, Excise and VAT Commissionerate, Chattogram – has been increasing gradually.
The Chattogram VAT Commissionerate has been organising the fair on 10th and 11th day of every month since January this year to increase VAT collection in the port city.
According to the Chattogram VAT Commissionerate, the first VAT fair in the port city, in January, collected Tk19 crore, in February collected Tk32.3 crore and in March collected Tk35.77 crore.
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Meanwhile, 2,374 VAT returns were submitted at the fair in January, 3,243 in February and 3,585 in March.
Mohammad Akbar Hossain, commissioner at Chattogram VAT Commissionerate, said, "VAT fairs are being organised to ensure that the traders do not face harassment during VAT registration or filing returns, and to popularise EFDs [electronic fiscal devices]. In the first three months of this year, there has been a huge response from traders at the fair."
|
Fair organised in |
VAT collected |
VAT returns submitted |
|
January |
Tk19 crore |
2,374 |
|
February |
Tk32.3 crore |
3,243 |
|
March |
Tk35.77 crore |
3,585 |
In addition to the fairs, VAT booths are set up at various big markets and shopping malls of the city on the 12th-14th day of every month. As a result, the amount of VAT collected and number of registrations is increasing every month. If this rate is maintained, it will be possible to collect 100% VAT as per the target, hope the officials concerned.
Till December 2020, the total number of VAT registered institutions under Chattogram's VAT Commissionerate was 27,427, and it has currently increased to about 30,000, said Shahinur Kabir Pavel, deputy commissioner of the Chattogram VAT Commissionerate.
Ahid Siraj Chowdhury Swapan, director of the Chittagong Chamber of Commerce and Industries, said, "Many traders are not yet fully aware of VAT payments. As a result of VAT fairs, traders are getting information related to VAT."
"We are hopeful that all traders eligible for VAT will be interested in paying it. Through this, the amount of revenue collection of the country will also increase to the desired level even in these difficult times of the pandemic," he added.
