The tax administration issued a notification in this regard yesterday, which was made public today
NBR said it has slashed VAT on ready-made clothes, restaurants, sweets, non-AC hotels and motor workshops and mostly restored to the previous levels
The National Board of Revenue is set to revise down the value-added tax (VAT) and supplementary duty (SD) on a number of items including mobile phone usage, internet services, medicine, clothes and restaurants as public outcry became deafening.
The recent VAT hike on clothing in Bangladesh strains businesses, consumers, and designers, especially with Eid approaching. Alternative measures like taxing luxury items or offering subsidies could have balanced revenue generation and economic sustainability more effectively.
NBR issues a notification moments ago
Aiming to encourage e-return filing and reduce hassles, taxpayers will no longer be required to submit hard copies related to value-added tax (VAT) returns to the VAT office if they file an e-return, the National Board of Revenue (NBR) said.
NBR also exempted VAT at production and trading of the highly import-based edible oil
Tour operator services, which include hotels and resorts as well as tour guides, may also no longer enjoy a 15 percent VAT exemption.
Dhaka is one of the most unliveable cities in the world, which does not go hand-in-hand with the progress made by the country, says the road transport and bridges minister
Realtors today said the cost of various raw materials, including rod and lift, will increase in the next fiscal year because of the increase in value added tax and customs tariff.
The price of the handsets will go up as the government today proposed 5 percent value-added tax on mobile handset sales.
The National Board of Revenue should accelerate the use of electronic fiscal devices (EFDs) and ramp up monitoring to eliminate non-compliance with a view to raising more value-added taxes using technologies, said former top taxmen and economists.
The VAT Intelligence has frozen bank accounts of Mr Baker Cake & Pastry Shop on allegation of evasion of value added tax, said its Director General Moinul Khan.
The share of value-added tax (VAT) in the national exchequer has continuously been creeping up ever since its introduction more than 27 years ago, and has increased in recent years to the point where it is the single biggest slice of revenue collections by the government.
Cox’s Bazar municipality authorities have dumped garbage in front of four residential hotels in a bid to collect taxes as the hotel managements did not pay it despite several notices were served.
The High Court orders the government to realise appropriate tax, VAT and other charges from the revenues earned by different digital platforms like Google, Facebook, Amazon, Yahoo and YouTube.
Contrary to its policy of discouraging tobacco cultivation, the government has retained the VAT exemption facility for unprocessed
Ministers and senior MPs from the ruling alliance yesterday in parliament spoke in defence of Finance Minister AMA Muhith and
The government may backtrack on its plan to implement the new VAT law from July this year, in the face of pressure from a section of
