The tenure of VAT Online Project (VOP) has been extended by another six months as the majority of its work remained unimplemented, the revenue board chief said on Wednesday.
The project of the National Board of Revenue (NBR) was scheduled to expire on December 31, 2020.
The NBR will renew contract with Vietnamese firm FPT, that is also scheduled to expire on the said timeframe, to complete the remaining task despite allegations of in competency against it.
Addressing a press briefing on the occasion of National VAT Day, NBR chairman Abu Hena Md Rahmatul Muneem said the project has been extended by six months until June 30, 2021.
He said the NBR will be able to develop all the modules of the project by the extended deadline.
The VOP has been launched in 2013 at Tk 6.90 billion to automate VAT administration.
Responding to a query, NBR member (VAT implementation and IT) Abdul Mannan Shikder said the project has so far developed three modules, including VAT registration, return submission and electronic payment.
Official sources said a total of 13 modules have remained unimplemented.
The modules include refund, audit, debt and risk management.
They said the World Bank, which is bankrolling the VOP Tk 4.50 billion under its Programme for Result initiative, recently consented to extend the VOP.
Mr Shikder said seven to eight modules of the VOP are expected to be implemented by next month.
The NBR has also strengthened monitoring the activities of the firm following the allegations, he added.
On allegations of VAT refund, Mr Muneem said the board is centrally monitoring VAT refund activities so that traders could get their refund without any hassle.
Despite Covid-19, he said, the NBR has achieved 1.8-per cent growth in revenue collection until November 2020 than that of the corresponding period in the previous fiscal year (FY).
On the occasion of VAT Day, the highest VAT payers at national level for FY 2018-2019 would be honoured at a programme at the NBR on Thursday.
The highest VAT-paying firms at district level would be honoured at separate programmes across the country.
The NBR chief disclosed an incentive plan for consumers to encourage use of electronic fiscal device (EFD).
He said the NBR would arrange lottery for consumers on their EFD-generated invoices in Dhaka and Chattogram.
The NBR will also observe VAT Week between December 10 and December 15.
