Five top VAT payers recognised in Chattogram

The Customs, Excise, and VAT Commissionerate in Chattogram acknowledged the outstanding contributions of five organisations as the highest VAT payers in the district during the VAT Day celebration held at Radisson Blu Chittagong Bay View on Sunday.

Dr SM Humayun Kabir, a member of the National Board of Revenue (NBR), presented memorials and certificates to the heads of the honored organisations as the chief guest in the event.

In the fiscal year 2021-22, the Consolidated Tea and Lands Company ( Bangladesh) Limited led the production sector, Escorp Apparels Ltd excelled in the business sector, while Chattogram's Sena Hotel Developments Ltd, Cox's Bazar's Sayeman Beach Resort Ltd, and Bandarban's Venus Resort & Coffee House were recognised in the service sector.

VAT Commissioner Syed Musfiqur Rahman presided and Bond Commissioner AKM Mahbubur Rahman played a key role in the discussion during VAT Day.

The Director General of Customs Excise and VAT Training Academy Suresh Chandra Biswas, Commissioner of Customs Excise and VAT Appeal commissionerate, Md. Moazzem Hossain , Tax Commissioner Shahadat Hossain Sikder, Commissioner of Chattogram Custom House Mohammad Faizur Rahman, president of Chattogram Chamber Omar Hazzaz, the, Vice President of Metropolitan Chamber AM Mahbubur Rahman, Senior Vice President of Women Chamber Abida Mostafa, attended the ceremony as special guest.

During the Q&A session, representatives from various organisations highlighted concerns, including delayed VAT payment notifications and discrepancies in VAT rates among different establishments. Participants urged for greater awareness and education on VAT laws for representatives of various companies.

Mahbub Rahman Ruhel, Managing Director of Sayeman Beach Resort Limited, emphasised the need to address unfair business competition in terms of VAT and urged for the inclusion of all businesses in the VAT network. 

He highlighted the positive impact of automation on VAT payment and stressed the importance of simplifying the process, especially for the 100 Special Economic Zones in the country.

In the discussion, it was revealed that Chattogram collected a total of Tk4,626.67 crore in VAT from July to October in the 2023-24 financial year, showing a growth of 15.39% compared to the same period in the previous financial year. The number of Electronic Fiscal Devices (EFDs) in Chittagong was reported to be 2,127.