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
The 7.5 percent VAT on the tuition fees of private universities was based on the hypothesis that rich and well-off parents send their wards to private universities.
Greece misses deadline for a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF), hours after eurozone ministers refused to extend its bailout.
The government proposes to withdraw value added tax (VAT) on a number of products and services to encourage local industries grow further.
Finance Minister AMA Muhith today floats the proposal to impose VAT at the rate of 4 percent on the online trading sector.
Awami League has criticised the imposition of Value Added Tax (VAT) saying it will not generate more revenue but aggravate people's sufferings by pushing prices higher.
Dhaka Mohanagari Mistannya byaboshayee Kallyan Samity on Monday urged the Government to exempt the sweetmeat business from the VAT system
