The government plans to gradually take over the charge of cyber security from foreign experts to avert any such unwanted happening as the cyber heist of recent times.
A proposal to this end will be placed in the board meeting of the Bangladesh Bank (BB) shortly, the newly appointed banking secretary said in Dhaka Tuesday, in the wake of grim discoveries about cyber-security failure that led to the digital burglary of the central bank's account with the US Fed.
Mr. Yunusur Rahman said a secretary-level committee of the government discussed the matter of cyber-security takeover.
"Measures should be taken under a long-term plan for a failsafe cyber security," he said.
The secretary of the banking and financial institution division under the ministry of finance came up with his statement after a programme organised by the National Board of Revenue (NBR) at the Institute of Diploma Engineers Bangladesh.
The meeting was arranged to discuss progress on the VAT online project and preparation for enforcement of the new VAT and Supplementary Duty Act set to take effect on July 1, 2016.
Finance Minister AMA Muhith attended the programme as chief guest. Senior secretaries of finance division Mahbub Ahmed and Economic Relations Division (ERD) Mejbah Uddin Ahmed and Controller-General of Accounts (CGA) Md Abul Kashem, among others, spoke on the occasion.
Internal Resources Division (IRD) secretary and NBR chairman Md Nojibur Rahman presided over the meeting, where speakers underscored exercising caution about cyber security in making e-payment after implementation of the new VAT law.
The banking secretary, Yunusur Rahman, further said the banking division will discuss the cyber-security issue with the BB and give instructions to both private and state-owned banks accordingly.
And, he said, the tax authority needs to take short-, medium-and long-term steps as a protective measure of cyber security.
For digitisation, security issues must be considered carefully.
CGA Abul Kashem assured the NBR of extending all-out cooperation in digitising the accounting system and integration of the system.
Finance Secretary Mahbub Ahmed said the new VAT law is now in the implementation stage and the NBR is prepared to enforce the law.
"The new VAT law needs harmonisation with the other government departments, including BB, CGA, ERD. The authorities must be aware about ensuring cyber security in the harmonisation process," he told the meet.
NBR chairman Md Nojibur Rahman conveyed the finance minister's instructions on implementing the new law in place of the existing VAT law framed in 1991.
"The finance minister instructed us to concentrate on taxpayers' communication, look into proper maintenance of accounts and depositing VAT by the businesses and ensure hassle-free and taxpayer-friendly environment," he said.
The system should be secure as there will be integration with VAT, income tax and customs wings, he said.
He also laid emphasis on independent verification and free flow of information.
The VAT online project has been working to facilitate the people with modern tax management and information and communication technology after implementation of the new VAT law. Vietnamese company FPT Information System Corporation Ltd will establish an advanced software system 'Integrated VAT administration System-IVAS'.
Work on registration module of the VAT project will start on July 01, 2016. Submission of tax returns and deposit of VAT will be launched in phases.
Taxpayers can ask any question to the tax authorities from a call centre.
Source:The Financial Express
