7 Sept 2016
BANGLADESH: Old BIN Numbers Binned as Compulsory Online Registration Looms for New VAT Regime
The current arrangement of Business Identification Numbers (BIN) in Bangladesh is to be phased out by 1 July, 2017. The present numbers, used to identify a company’s VAT registration status, are to be dispensed with in line with the country’s new tax regime.
Companies are now obliged to register online to receive a new BIN. Any business failing to register will be unable to file VAT returns or to complete any required import and export documentation.