The National Board of Revenue (NBR) yesterday announced the names of nine firms in order to honour them for paying the highest amount of value-added tax (VAT) nationally in their respective sectors for fiscal 2019-20.

The effort aims to encourage businesses to properly deposit the indirect tax paid by consumers to the state coffer.

Additionally, names of 102 firms were announced for depositing the highest amount of VAT at the district level, according to two separate notifications issued by the NBR.

The NBR plans to honour the top nine firms nationally at a ceremony on December 10, said a senior official of the NBR, the main collector of revenue for the state.

Finance Minister AHM Mustafa Kamal is expected to hand over the award to the nationally biggest VAT payers, he said.

"We will honour them with crest and certificates," he said.

Of the winners, Aristopharma has been named as one of the top VAT payer nationally for the second consecutive year in manufacturing category.

This is going to be the 16th year that the NBR will honour businesses to ensure compliance of businesses and to increase tax receipts from domestic economic activities.

The VAT, which is paid ultimately by consumers, accounted for 37 per cent of the total revenue collection of Tk 259,880 crore in fiscal 2020-21.

The revenue authority awards the highest VAT payers in three categories: manufacturing, trading and services.

The NBR said it finalised the largest VAT paying firms in line with a policy framed in in 2005. The policy states that a firm would qualify if it pays 10 per cent higher VAT than in the previous fiscal year.

Firms that face tax disputes, arrears and default loans with banks are not eligible for the award, according to the NBR.

At the regional level, the NBR named 24 firms as top VAT paying firms in districts under Dhaka division, the main industrial and trade centre of the country.