Under the VAT Act 2012, businesses in Bangladesh are required to obtain VAT/BIN registration based on their annual turnover. VAT registration is mandatory for entities with an annual turnover exceeding Tk. 30 million, while those with a turnover between Tk. 5 million and Tk. 30 million are eligible for VAT enlistment. Additionally, certain specific supplies and services must register for VAT regardless of turnover. Businesses may also opt for voluntary VAT registration if desired.
Helpink Business Consulting Agency provides comprehensive assistance for VAT/BIN registration, ensuring that all requirements are met seamlessly and in compliance with the regulations.
Entitlement for VAT/BIN Registration
- Mandatory Registration: For entities with an annual turnover above Tk. 30 million.
- Enlistment Eligibility: For entities with an annual turnover between Tk. 5 million and Tk. 30 million.
- Specific Supplies/Services: For certain industries, VAT registration is required regardless of turnover.
- Voluntary Registration: Businesses can choose to register voluntarily if needed for operational purposes.
Required Information and Documents for VAT/BIN Registration
To register for VAT/BIN, the following documents are needed:
- Tax Identification Number (TIN) certificate
- National ID (NID) or Passport copy of the owner/shareholders
- Bank solvency certificate or latest bank statements
- Trade License
- Certificate of Incorporation (for companies)
- Import Registration Certificate (for businesses involved in import activities)
- Export Registration Certificate (for businesses involved in export activities)
- Layout plan of equipment (for manufacturing activities)
- List of machinery & equipment (for manufacturing activities)
- Old BIN certificate (if previously registered)
- BIDA registration (for branch offices of foreign companies)
- Contact details of the authorized person, including name, mobile number, and email address
Helpink ensures that all the required documents are properly gathered and submitted on behalf of clients to avoid delays or rejections.
Step-by-Step VAT/BIN Registration Process
- Visit the Official Website
The applicant must go to the vat.gov.bd website. - Sign Up to Create User Account
The first step is to click on the “Sign-up” option to create a user account by filling in the required information. - Receive Activation Code
After submitting the necessary information, an activation code will be sent to the applicant’s mobile number to verify the registration. - Receive User ID and One-Time Password
Upon completing the verification, the system will send an email containing the User ID and a one-time password. - Log in with VAT Online ID
The applicant then logs in using the provided credentials to access the VAT system. - Fill the VAT Registration Form
After logging in, the applicant must navigate to the “Forms” section, click on “Add Form,” and select Mushak – 2.1 VAT/Turnover Tax Registration Form. - Complete the Form
The applicant must fill in all the required information and upload the necessary supporting documents. - Verification and Inspection
After submission, officials from the National Board of Revenue (NBR) will verify the application and may conduct an inspection of the documents provided. - Receive VAT/BIN Certificate
Upon successful verification, the VAT/BIN registration certificate will either be emailed or made available for download through the system.
Processing Time
The entire registration process typically takes between 7 to 15 days from the date of application submission, depending on the verification and approval process.
Government Fees
No fees are required for VAT/BIN registration.
How Helpink Can Assist
Helpink Business Consulting Agency offers end-to-end assistance in the VAT/BIN registration process. From gathering the necessary documents to completing the online application and ensuring compliance with NBR guidelines, our team is dedicated to making the registration process quick, accurate, and hassle-free.