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The National Board of Revenue (NBR) Chairman Md Mosharraf Hussain Bhuiyan yesterday said that stern action would be taken against those who makes VAT registration or takes Electronic Business Identification Number ((e-BIN) through providing false information or fake documents. - A home for your website

“Some businessmen are taking EBIN providing false information in order to evade tax, especially at the import level. It won"t be allowed anymore and stern action would be taken against those who does such thing,” he said.

The NBR chairman said this while addressing the inaugural function of the online return submission operations under the VAT online project held at the Institution of Diploma Engineers, Bangladesh Auditorium in city"s Kakrail area.

Chaired by NBR member M Rezaul Hasan, FBCCI Acting President Sheikh Fazle Fahim, MCCI Vice President Golam Mainuddin, VAT Online Project Director Syed Mushfiqur Rahman, among others, spoke.

Mosharraf also informed that the NBR officials have already been cautioned so that none can take e-BIN through providing false information.

Reiterating that the new VAT law would come into effect from first of July, he said that the VAT rate would not be only 15 per cent rather there would be multiple rates. Besides, the 15 per cent VAT rate would have the scope for rebate.

He also hoped that with the implementation of the new VAT law, the business-friendly environment would further improve in the country.