Dhaka, Dec. 10 -- The National Board of Revenue (NBR) has set a goal of bringing 100,000 additional businesses under the VAT net this month, in observance of VAT Day and the start of VAT Week on Tuesday, NBR Chairman Md Abdur Rahman Khan announced at a press briefing at the NBR headquarters in Dhaka on Tuesday.

Currently, Bangladesh has approximately 644,000 VAT-registered entities, while only 344,000 submitted VAT returns in October.

"With business volume in the country being substantial, our VAT collection still remains very low," he noted. "We are actively working to recover lost revenue."

Khan also revealed that the long-awaited automated VAT refund system is nearing completion. Once launched, it will aim to eliminate delays and br...