In Bangladesh, every business should have a Business Identification Number. No business can have this without a VAT registration certificate. The VAT registration certificate is mandatory for export, import, banking activities, and participation in the tender. A VAT is controlled by the National Board of revenue. The VAT is regulated by the excise and VAT departments in BD.
Do you need a VAT registration certificate? You can have just followed the simple process. Before having the VAT registration certificate, you need to fulfill some requirements.
• First you need a trade license
• TIN Certificate must be required
• You should have Passport-sized photos for verification
• You should submit the “Deed of Agreement”
• Show your Import Registration Certificate if you have
• Documents Required by a Bank to Issue a Solvency Certificate Called “Bank solvency certificate”
• BIDA (Bangladesh Investment Development Authority) registration
• Show your Export registration Certificate if you have
• List of all sales shops; Sales centers, detail addresses along with machinery, fittings, and product features
• Include Amendment of the products manufactured
• List of all invoices and stored products
• Need to have Memorandum of Association (MOA) and Articles of Association
There is a 7 days official time limit for the vat registration. There are no government fees to fulfill the application. Check the latest renewal fee of trade license in Bangladesh.
The online VAT registration process in Bangladesh 2022
The online VAT registration process in Bangladesh is simple to have. It has been simpler than before. One can have this fulfilling the requirements. Zakir Hossain, Deputy Projector director mentions that since now, no registration will be given manually. Everyone needs to register electronically or online. A firm needs to sign up for having a Business Identification number. Online registration is started. But the small business does not need this registration.
After passing enough time, NBR has prepared the opportunities to have online registration. The online registration system creates an automated environment for ensuring better services to the taxpayers. By online registration system, NBR increases revenue collection and transparency. The system also fits for transparent accountability. Revenue administration performs plenty of works automatically.
How to Get an Online VAT Registration Certificate?
The electronic VAT registration system has lessened the complexities to go office. No one can obtain a VAT registration certificate from his home in Bangladesh. When anyone needs to have the VAT registration certificate, he has to wait a few days because of the manual process. But Now It has been easy. Within a short time, one can have a VAT registration certificate just by fulfilling the whole process. Now it is easy to have this within a short time.
The businessman who feels difficulties using the online site, the online service center is available for them. From the online service center, one can register and have a VAT certificate. Already The NBR has opened four VAT Online Service Centres (VOSC). These are available in Farmgate, Mirpur, Motijheel, and Uttara. The service is also available in Chittagong port city.
There are some companies that run under the large Taxpayers unit of VAT, have registered online. A little difference is noticeable when you get the registration form online. One will have 9 digits Business Identification Number (BIN) instead of 11 digits registered as a certificate. Know the latest corporate tax rate in Bangladesh.
The Automation VAT system in BD for Online VAT Registration in 2022
Online creates the chance of an automotive VAT system in Bangladesh. It is quite effective for VAT collection and compliance. Because of this system, businessmen will be encouraged to implement the system. The VAT system is the main source of revenue. The system will be completed through the pressing of the finger.
The online VAT system is normally started in March 2017. Since then people have started to use online for paying value-added tax. Now, most people of Bangladesh have inclined to online. Now any business can have online VAT registration easily.
Taking VAT registration manually has been closed. When anyone wants to register, he has to take this electronically. At the time of filling the VAT registration form, you just need to keep the following documents with you. The system in the spheres of Proprietorship Business and a limited company is different a little bit. The proprietorship business refers to a person who is liable for everything. An only a single person is responsible for his debt.
What you have to fill up at the time of – “Online VAT Registration for Proprietorship Business”.
• Mention Name of the Proprietor
• Include NID/ Passport
• Write Name of Business
• Submit Bank Information Details
• Nature of Business must tell
• Include Passport Info
• TIN Certificate Require
Online VAT Registration for Partnership Firm is also a little bit different; you need some extra documents for – “Partnership Firm VAT registration”.
• Mention the Name of Partnership Firm
• TIN Certificate of Partnership Firm must need
• Business Address Details
• Bank Information Details
• Write the Nature of Business
In the sphere of Limited Company, the documents are quite important for – “Limited Company Online VAT Registration”.
• Write The Name of the Company
• Submit Bank Information Details
• Describe Nature of Business
• NID/ Passport copy must be attached
• Incorporation Number should include
• TIN Certificate of the Company required
• Need Business Address details
You will have an online application form through access to the internet. If anyone faces a problem, he can take help from an online service center.
VAT is a valuable source of revenue collection in our country. Every year, the government has a large amount of money from VAT. The VAT certificate is too important for every Bangladeshi businessman. Not only Bangladesh but revenue also keeps the most important role all over the world for GDP and other development. But comparatively, the Tax in Bangladesh is a little bit more than in other developing countries.
Having a VAT registration certificate is not tough like before. Online has made everything easy. So Apply here online for vat registration from BD.
Now, anyone can have a VAT certificate in Bangladesh from anyone’s home with an internet connection. If you want to submit it, you can now easily fill it up to take a step online.
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