SANGSAD BHABAN, June 11, 2026 (BSS) - The government has proposed making VAT registration or the Business Identification Number (BIN) mandatory for opening business bank accounts in a move aimed at expanding the Value Added Tax (VAT) net and increasing revenue collection.

Finance and Planning Minister Amir Khosru Mahmud Chowdhury made the proposal while presenting the national budget for the 2026-27 fiscal year in the Parliament today.

In his budget speech, the finance minister said initiatives have been taken to amend the law to make VAT registration compulsory for opening bank accounts for business purposes as part of efforts to broaden the VAT base.

He said the measure would bring more business entities under the formal tax system and help increase revenue collection.

The minister also proposed amendments to the VAT and Supplementary Duty Act to enhance revenue earnings.

He also proposed amendments to various schedules of the Value Added Tax and Supplementary Duty Act, 2012 to increase revenue collection and improve the effectiveness of the tax system.