Update March 16, 2016

Dhaka 2-12 am, 19-January, 2021

VAT e-payment system, NBR to form body to ensure security

Sumel Sarker

NBR

VAT e-payment system, NBR to form body to ensure security

16 March 2016, Nirapad News: The National Board of Revenue (NBR) has decided to form a body for ensuring cyber security of the Integrated VAT (Value Added Tax) Administration System (IVAS) to protect electronic VAT payment from hackers. The online VAT payment, to be introduced from July 1, will be made secured in line with guideline, provided by the committee.

The Bangladesh Bank (BB), Controller General of Accounts (CGA) and commercial banks operate integrated budget and accounting system (iBAS or iBAS+++), which will be integrated with the online tax payment and IVAS system. Project director of NBR’s VAT online project Md Rezaul Hassan recently sent a proposal to the Ministry of Finance to form an inter-departmental technical coordination committee. According to the proposal, the nine-member committee will comprise representatives from BB, Finance Division, Banking and Financial Institution Division, CGA, Information and Communication Technology Department and A2i Project, heads of IT of Sonali Bank Limited and some commercial banks, and deputy project director of VAT online project. He also proposed to include a representative of the Bangladesh Association for Software and Information Service (BASIS) in the committee. The committee will monitor integration of BB, commercial banks, IBAS and other systems with IVAS.

It will also ensure inter-operability of the systems. The committee members will provide guideline on cyber security-related issues to ensure maximum security. The government is set to enforce the new VAT and Supplementary Duty (SD) Act from July 1, 2016. With implementation of the new law, taxpayers will be able to pay VAT and submit VAT returns online. Revenue collection and account keeping are inter-related with some other administrations, including BB, commercial banks and financial institutions and CGA office. On March 2, VAT online project held a seminar to integrate the e-payment system. At the programme, Banking Division Secretary Dr M Aslam Alam, who was later on the day was made the Officer-on-Special Duty (OSD), proposed to form an inter-departmental technical coordination committee for ensuring cyber security of the integration. Following the proposal, NBR decided to form the committee with approval of the government high-ups.

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