Around 172,000 BINs on hold

Dhaka,  Mon,  26 June 2017
Published : 15 Jun 2017, 00:45:34
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Failure to file VAT returns

Around 172,000 BINs on hold

Around 172,000 BINs on hold
Doulot Akter Mala


Dhaka South VAT Commissionerate has blocked the Business Identification Numbers (BINs) of the enterprises those failed to file VAT returns.

Officials said the VAT authorities recently blocked around 172,000 BINs, also termed as VAT registration numbers, of the businesses those operate under the south zone.

The businesses are located in the city's Motijheel, Segun Bagicha, Tejgaon, Dhanmondi, Lalbagh, Kotwali, Narayanganj and Munshiganj area.

The VAT officials found the BIN holders did not comply with the VAT law by not submitting VAT returns. As per the VAT law, the businesses are bound to submit VAT returns every month.

The key business activities, including imports and exports, of the enterprises were being hampered as a result, forcing the businesses to seek and obtain the new BINs.

Officials said many of the businesses, on an average 10 to 12, were now coming to the VAT commissionerate and obtaining the new BINs.

Talking to the FE, Kazi Mostafizur Rahman, commissioner of VAT south commissionerate, said some 8,000 of the businesses submitted VAT returns out of 180,000 BIN holders.

"We have locked the remaining BIN numbers of the businesses by entering into the Asycuda system of customs," he added.

As a result, the businesses were approaching the commissionerate every day to unlock their BINs, but the VAT wing was instead issuing the new nine-digit BINs to them, he said.

"We have locked the BIN for facilitating businesses too. The BINs of some organisations were misused by the vested quarters on import of goods," he said. Already, some 7,000 of the businesses under VAT south office have re-registered themselves and obtained new nine-digit BINs, he said.

Businesses located in the city's old Dhaka, Baitul Mukarram, New Market, Bashundhara Shopping Complex and Mouchak Market are under the jurisdiction of Dhaka south commissinerate.

Members of Bangladesh Pipe Merchants Association, Islampur Cloth Association, Rexin Association and Electrical Association pay VAT under the largest VAT commissinerate of the country.

The officials said that obtaining new BINs is satisfactory in the VAT zone but number of BIN holders will be reduced as the new online VAT system introduces central registration system.

Main revenue of the VAT commissionerate is the collection at source from implementation of Annual Development Programme (ADP), but it was poor -- only 65 per cent until the eleventh month of the outgoing fiscal year.

The VAT south office will have to collect Tk 56.29 billion in the FY 2016-17.

    doulot_akter@yahoo.com
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