Nagad top VAT depositor for consecutive years

Business Desk :
Nagad, the fastest-growing mobile financial service provider, has once again emerged as a top VAT depositor in only four years of its inception.

The National Board of Revenue (NBR) has declared Nagad Limited as one of the top VAT-paying companies in the country for the fiscal year 2021-2022 in the service category, reports BSS.

In acknowledgment of Nagad’s exceptional financial contribution to the national exchequer, the “Highest VAT Payers Award” will be handed over by chief guest Finance Minister AHM Mustafa Kamal to the MFS operator at a ceremony organised by the NBR on December 10 marking the National VAT Day, said a press release today.

Like in previous years, 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’s inclusion in the top VAT payers’ list is attributed to its rapid customer growth, fuelled by innovative service offerings that have led to an upswing in transactions.

Since its launch by Prime Minister Sheikh Hasina, Nagad has garnered over 8.5 crore customers and revolutionized the disbursements of social safety net allowances, education stipends, and even distributed cash aid to underprivileged families during the pandemic times.