VATupdate

Share this post on

Revamping VAT Collection: New Strategies for Attracting Consumers and Boosting Revenue

  • The revenue board is considering a remake of the failed electronic fiscal device and new methods to make VAT attractive to consumers.
  • The VAT authority’s lottery programme launched in 2020 did not motivate consumers.
  • The NBR plans to change the stimulus methods and launch a massive campaign to motivate consumers with instant cashbacks or lottery.
  • The NBR wants businesses to use the machines and shoppers to willingly take receipts through the machines.
  • The new devices have interoperable features and have been installed by a third party.
  • The new machines have four major features that would make them popular among consumers and businesses.

Source: today.thefinancialexpress.com.bd

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

Sponsors:

VAT news

Advertisements:

  • VAT news