Prime Bank joins NBR’s integrated VAT administration system
BI Report || BusinessInsider
Prime Bank partners with the National Board of Revenue (NBR) Photo: Courtesy
Prime Bank has partnered with the National Board of Revenue (NBR) to develop single and multiple business identification number (BIN) validation for an enhanced VAT payment experience.
Prime Bank’s corporate clients have already been enjoying the e-VAT service through the bank’s omni digital platform -- PrimePay -- since December 2020, said a press release.
The latest integration will bring VAT deduction at source payment as an additional feature of the e-VAT service for the Banks’s corporate clients.
By using IVAS system, the enlisted corporate users can easily and securely pay their e-VAT and supplementary duty directly from the user’s bank account to the national exchequer using PrimePay.
An inauguration ceremony was held at the bank’s head office, in which Kazi Mostafizur Rahman, VAT Online project director and Commissioner of the NBR, was present, the release reads.
