The National Board of Revenue (NBR) has published the official and authentic English texts of the Value Added Tax Act, 2012; the Customs Act, 2023; and the Income Tax Act, 2023 in the Government Gazette.

For a long time, business communities, professional bodies, foreign investors, and various international research organizations had been demanding the release of recognized English versions of these three revenue laws.

The NBR announced the publication through a press release issued on Thursday (20 November).

Foreign investors had long considered the English versions of these laws essential for understanding Bangladesh’s tax framework and making investment decisions. The demand intensified after the enactment of the new Income Tax Act 2023 and Customs Act 2023, which replaced the Income Tax Ordinance 1984 and the Customs Act 1969.

Officials from the Income Tax and Customs cadres of the NBR had been working for an extended period on preparing the English versions, which were reviewed multiple times by a special committee. After vetting by the Legislative Division, the laws were sent to BG Press for gazette publication.

The Income Tax Act 2023 was published on October 16, while the VAT Act 2012 and Customs Act 2023 were published on November 13. The English version of the VAT Rules 2016 was released on November 10.

According to the NBR, the publication of the gazettes will provide domestic and foreign investors with clearer insights into revenue-related laws and regulations, helping to build taxpayer confidence. It will also reduce ambiguities in the application of the laws and contribute to creating a more investment-friendly environment.