The National Board of Revenue (NBR) has launched an Online VAT Refund Module to facilitate the online submission, processing, and direct transfer of VAT refund amounts to taxpayers` bank accounts.

Through the introduction of the new module, a digital linkage has been established between the existing Integrated VAT Administration System (iVAS) and the Ministry of Finance`s iBAS++ system. This will enable the transfer of approved VAT refunds directly to the designated bank accounts of taxpayers through the Bangladesh Electronic Fund Transfer Network (BEFTN).

Using the Online VAT Refund Module, a taxpayer will be able to submit a claim for VAT refund online through their VAT return. After receiving the application online, the concerned VAT Commissionerate will examine and verify the application as per VAT Act and related rules. Upon approval, the refund amount will be transferred automatically to the taxpayer`s bank account through iBAS++ using BEFTN.

Under this new system, taxpayers will no longer have to visit VAT offices to submit refund applications or collect refund cheques, saving both time and money while ensuring greater transparency.

To process refund applications through the newly introduced Online VAT Refund Module, taxpayers must submit new refund applications online using Form Mushak-9.1 through the iVAS system, even for refund claims previously submitted online or manually in hardcopy form that remain unresolved, said an NBR press release.

To ensure proper use of the Online VAT Refund Module and enhance service efficiency, NBR has already arranged training for officers and staff of all VAT Commissionerates. Taxpayers can contact their respective VAT Commissionerates for necessary information and assistance regarding online VAT refund.

With the introduction of the Online VAT Refund Module for direct transfer of VAT refund amounts to taxpayers` bank accounts, NBR`s ongoing digitalization process has advanced another significant step. NBR will continue its efforts to bring all its activities gradually under full automation to ensure transparency and accountability.