In Bangladesh, VAT payments are primarily collected through physical instruments (e.g. Pay Order or Cheque) which are time consuming and prone to human error. With IBBL’s VAT Payment solution, your company will be able to make VAT payment to the Government electronically through IBBL iBanking. Upon completion of a successful payment, you will receive an SMS and Email with a VAT Challan Number (receipt provided by the Government)
Why Online VAT Payment?
- No need to go to the bank or Government office.
- No need to handle paper-based instruments, e.g. Pay Order, Cheque.
- Each transaction will be completed near real-time through Real Time Gross Settlement (RTGS), instead of taking up to three days using paper instruments.
- Reduced processing costs.
- SMS and Email receipt of the VAT Challan Number within couple of minutes.
- Email receipt of challan copy from NBR the following business day.