NBR Releases Authentic English Texts of Three Major Revenue Laws

The National Board of Revenue (NBR) has now published the Official English Text for three key revenue laws. They released them through government notices. Importantly, this step answers a long-time request from investors, both at home and abroad.

The three main laws now available in English are:

1. Value Added Tax and Supplementary Duty Act, 2012 (VAT Law)

2. Customs Act, 2023

3. Income Tax Act, 2023

The lack of a clear English version had caused confusion for a long time. As a result, global companies, researchers, and professional groups faced problems.

• Helps Investors: Foreign investors need accurate English texts. Therefore, this official release should make them trust Bangladesh’s tax and customs system more.

• Makes Things Clear: The new English texts clear up any confusion. This means trade and tax matters between countries will be easier to understand for everyone.

• Shows Openness: Finally, this move, supported by the World Bank, helps create an open and simple business world. All taxpayers can now easily understand their tax duties correctly.

The NBR says its officers worked hard on the translations. Expert groups checked the work carefully before the final release.