Government Policy

Muhith favours 15pc VAT again

DHAKA, Jan 24, 2017 (BSS) - Finance Minister AMA Muhith today reiterated his opinion regarding imposition of 15 percent Value Added Tax (VAT) on goods and services in the next budget in line with the new VAT law.

"15 percent VAT will be introduced on goods and services in the next budget. I am strict to my opinion," said the minister while talking to journalists at his secretariat office here.

About the demand of business community for imposition of VAT at different rates on various sectors, Muhith said this demand will be considered in future but initially one rate is good.

More or less, business community has accepted the new VAT and Supplementary Duty Act-2012 which will be implemented from July 1 this year, he said.

Responding to a question on revenue collection, the minister said revenue collection in this year is not bad and there are some signs to increase the revenue collection.

"Increasing the number of tax payers particularly income tax payers is one of the important signs for increasing the revenue collection in this fiscal," he said adding that the number of E-tin has been increased in this fiscal.

Now the attitude of the taxpayers has been changed, he said adding that the tax officials have been providing different facilities including online services without hassle.

Source: Bangladesh Sangbad Sangstha (BSS)