Bangladesh: Government publishes VAT Audit Manual for 2022
The Bangladesh Revenue Authority opens to the public via online the VAT Audit Manual for 2022. This will allow taxpayers to be informed and prepared as to what extent their obligations are.
Key points of the VAT Audit Manual:
- Importance and limitations of paying VAT obligations – It is a moral obligation of a citizen to pay VAT obligations as it is part and set by the law of the state. VAT covers only taxable imports and supplies.
- Preparations for possible queries from GST-registered person when it comes to information on VAT
- Identifications of possible tax evasion – tax evasion is a criminal offense. In cases there will be inquiries with regards to the offense, the VAT officer shall conduct the inquiry
- Complete collection of records or reports to all VAT transactions
Source: nbr. gov.bd
