bKash Awarded as Highest VAT Payer in Service Sector for Second Consecutive Year

markediumDecember 11, 20231 Mins read142 Views

bKash Awarded as Highest VAT Payer in Service Sector for Second Consecutive Year

bKash, the leading mobile financial service provider in Bangladesh, has been distinguished for the second consecutive year as the highest Value Added Tax (VAT) payer in the service sector at the national level for Fiscal Year 2022 by the National Board of Revenue (NBR).

The formal ceremony, held at the NBR building, saw Kamal Quadir, Chief Executive Officer of bKash, receiving the letter of honor and crest. The award was presented by esteemed individuals including Abu Hena Md. Rahmatul Muneem, Chairman of the National Board of Revenue; Tapan Kanti Ghosh, Senior Secretary of the Ministry of Commerce; Md Sahidul Islam, Member (VAT Audit & Intelligence) of NBR; and Mahbubul Alam, President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). Moinuddin Mohammed Rahgir, Chief Financial Officer of bKash, was also present alongside other senior officials from the organization.

In a statement reflecting on this accolade, Mr. Quadir articulated bKash’s enduring commitment to providing a comprehensive range of digital financial and payment services, adhering to the regulations of Bangladesh Bank. He emphasized the company’s dedication to ensuring compliance, transparency, security, and ease of use in its operations.

Furthermore, Mr. Quadir underscored the meticulous process of VAT and tax deduction at source for every transaction processed through bKash, contributing directly to the government treasury. He expressed his gratitude for the recognition of bKash as the premier VAT collector in the nation’s service sector for the second successive year and reiterated the company’s resolve to continue offering regulated financial services that contribute positively to the progress of Bangladesh.

The National VAT Day, observed on December 10 each year, is an occasion when NBR honors the highest VAT payers. This year, like in previous ones, top VAT contributors were acknowledged at a national level across three distinct categories: Production, Business, and Service.

To qualify for this recognition, organizations are required to possess an Electronic Business Identification Number (eBIN), provide VAT slips to consumers, and consistently pay VAT to the national exchequer.

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