Dhaka: The government has announced the exemption of a 7.5 percent additional value added tax (VAT) at the production stage of liquefied petroleum (LP) gas. The National Board of Revenue (NBR) has released a special order today to implement this decision.
According to Bangladesh Sangbad Sangstha, the NBR noted that LP gas is currently utilized as a fuel source for cooking, transportation, and industrial purposes. The demand for LP gas has surged, particularly in garment factories and other industries, due to the inadequate supply of natural gas from distribution companies.
In a bid to facilitate the production and make the use of LP gas more accessible and affordable, the NBR has decided to exempt the 7.5 percent additional VAT at the production stage. This order is set to take effect on January 9, 2025, as confirmed by the NBR.