The Economic Relations Division recently selected an Indian company’s proposal of becoming an independent verification consultant for a part of Vat Online Project.
The proposal will be placed before the Cabinet Committee on Public Purchase next week. The part of the project involves TK10.92 crore.
The company’s name is Deloitte Touche Tohmatsu India LLP, a limited liability partnership.
If the work is awarded, it will work as independent verification consultant (international professional services firm) for “support implementation of the revenue mobilisation programme for results: Vat Improvement Programme (Vat Online Project)” under the Economic Relations Divisions of Finance Ministry, according to official documents.
The National Board of Revenue is implementing the project with US$57m for VAT Online Project and $3m for technical support project, with joint financing of Bangladesh government and the World Bank.
In October, six member evaluation committee shortlisted three firms from the participants- Deloittee Touche Tohmatsu India Limited Liability Partnership, Price Water Coopers Limited (India) and Mazwell Stamp Ltd (Bangladesh) JV, and e.GEN Consultant Limited (Bangladesh) and Grant Thornton Consulting (Bangladesh) JV.
Later, the Indian firm was selected as winner of the tender.
The government is implementing VAT Online Project to ensure a modern tax administration to implement the new VAT law that will come into effect from July, 2016.
The project is expected to help improve revenue mobilisation and transparency in VAT administration.
The independent third party consultant firm will be responsible for verification of all Disbursement Linked Indicators (DLIs), selected programme action plan items and project development objective of proactive disclosure.
The firm will deliver the DLI results verification report simultaneously to the World Bank, the NBR and the ERD. On the basis of the verification reports, the World Bank will determine whether or not the DLI has been achieved and will disburse the associated amount as per the financing agreement, official documents read.