NBR to introduce QR code system for packaged goods to curb VAT evasion
NBR Chairman Abdur Rahman Khan said they will initially start with tobacco products and later implement for all packaged goods
The National Board of Revenue (NBR) plans to introduce a QR code system on packaged products sold in the market to curb value-added tax (VAT) evasion and improve tax compliance.
NBR Chairman Abdur Rahman Khan announced the plan during a pre-budget meeting at the organisation's headquarters in Agargaon today (26 April).
"At the initial stage, we plan to start with tobacco products. Later, it will be implemented for all packaged goods such as soap, shampoo, bottled water, and sugary items," he said.
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He said the new system was intended to strengthen monitoring and reduce tax evasion in the retail market.
The NBR chairman also said individuals who provide information on tax evasion or misconduct would be rewarded.
"Those found evading taxes will face fines," he said.
Representatives of several business bodies, including BGMEA and BTMA, attended the meeting.
