Industry

Muhith for paying VAT

Finance Minister AMA Muhith yesterday urged the small traders to pay their Value Added Tax (VAT) as per the law to reach the target of revenue collection for 2016-17 financial year.

"The demand of the small traders to reduce VAT is not acceptable. They will have to pay VAT," he said while addressing a book unveiling ceremony of Dhaka Chamber of Commerce and Industry (DCCI) Tax Guide 2016-17 at the finance ministry in the city.

Muhith suggested the businessmen to keep their accounts properly for making easy the VAT calculation and urged them to be used-to in using electronic cash registrar machine (ECR).

He also said that if the VAT payers increase, the government will take plan to reduce the VAT rate in future.

Among others, National Board of Revenue (NBR) Chairman M Nojibur Rahman, DCCI Vice President Atique-e-Rabbani and Directors of DCCI were present at the function.

Nojibur Rahman lauded DCCI for publishing the tax guide every year and said the guide helps the tax payers calculate income tax in a formulated way and encourage them to pay tax as well.

Source: Bangladesh Sangbad Sangstha (BSS)