Nagad becomes top VAT payer after only 3 years in operation

Business Desk :
Nagad, the fastest-growing mobile financial service provider, has come out as a top VAT payer in only three years since it embarked on its journey.
The National Board of Revenue (NBR) has already declared Nagad Limited as the third highest VAT-paying company for the fiscal year 2021-2022 in the service category.
In recognition of Nagad’s outstanding contribution to the national exchequer, Finance Minister AHM Mustafa Kamal as the chief guest will hand over the “Highest VAT Payers Award” to the digital financial service provider of Bangladesh Postal Department at a ceremony organized by the NBR in InterContinental Dhaka recently, marking the VAT Week (December 9 to 15).
Industries Minister Nurul Majid Mahmud Humayun and Md Jashim Uddin, president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI), will grace the occasion as the special guests, while Abu Hena Md Rahmatul Muneem, senior secretary to Internal Resources Division and NBR chairman, will preside over the programme.
Other NBR officials, among others, will also attend the award-giving event. The revenue board will honour the top nine VAT-paying companies at the national level for the last fiscal year in three categories – production, service and business.
Nagad has gained customers at a faster pace because of its new innovations in providing services to its customers, leading to a gradual rise in transactions. Thus, the MFS provider has got into the list of the highest VAT-paying companies.
Since its launching by Prime Minister Sheikh Hasina, Nagad has so far onboarded more than 6.5 crore customers.
The MFS provider also distributed PM’s cash aid to poor families ahead of Eid at the pandemic times.