VAT-Net-expansion

From grocery shops to small-scale industries—everyone will have to enter the VAT net right from the start. This is because obtaining a Business Identification Number (BIN) will be mandatory in the upcoming fiscal year. Consequently, small traders will automatically fall under the purview of VAT. Cur...

The National Board of Revenue (NBR) has taken a new initiative to expand the country’s narrow VAT base. The agency plans to increase the number of VAT-registered businesses to two million within the next year. As part of this effort, letters have been sent to 465 trade associations across the countr...