The Value Added Tax (VAT) wing of the National Board of Revenue (NBR) has signed a Memorandum of Understanding with the Bangladesh Institute of Chartered Accountants (ICAB) for the use of the Document Verification System (DVS) to check the reports.
The memorandum of understanding was signed at a ceremony held Tuesday in Rajswa Bhaban’s conference hall in Dhaka, BSS reports citing a press release.
Mahmudul Hasan Khusru, President of ICAB, and Md Masud Sadiq, Member (VAT Policy) of NBR, signed the MoU on behalf of their respective organizations.
NBR President and Principal Secretary of the Internal Resources Division of the Ministry of Finance Abu Hena Md Rahmatul Muneem, ICAB Vice Presidents Md Abdul Kader Joaddar and Maria Howlader, Board Members Noor-E-Khoda Abdul Mobin, Gopal Chandra Ghosh, Sabbir Ahmed, Md Moniruzzaman, Md. Mahamud Hosain Mohammed Forkan Uddin and CEO Shubhashish Bose were also present on the occasion.
NBR Chairman Abu Hena Md Rahmatul Muneem said, “DVS will bring a massive change in revenue administration. It is a useful tool to ensure a unique audit report of organizations.
He also said: “By ensuring transparency in the accounting and tax process, we will be able to increase revenue collection in the government vault at the same time to reduce the tax burden on taxpayers.”
ICAB President Mahmudul Hasan Khusru said, “The country’s economy is reaping the benefits of DVS. This will bring good governance to the country’s financial ecosystem.
NBR member (VAT policy) Md Masud Sadiq said the highest amount of national revenue comes from VAT. “DVS will be useful to increase it further.”
ICAB board member Mohammed Forkan Uddin also spoke at the event, among others.