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VAT rate may be cut a bit: Muhith

5 || risingbd.com

Published: 15:36, 21 May 2017   Update: 15:18, 26 July 2020
VAT rate may be cut a bit: Muhith

Finance Minister Abul Maal Abdul Muhith

Special Correspondent: The government is likely to reduce VAT rate a bit by amending the new VAT law following the demand made by businesses.

Finance Minister Abul Maal Abdul Muhith made the disclosure while talking to reporters after two separate meetings between Dhaka Chamber of Commerce and Industry (DCCI) and Bangladesh Insurance Association (BIA) at the Secretariat on Sunday.

The new VAT law will be effective from July 1. There have been many talks over the VAT law. A flat 15 percent VAT rate has been proposed in the new VAT law. The proposed VAT rate may be reduced a bit following the demand made by businesses, Muhith told reporters after the meetings.

New VAT rate will be finalised at a meeting on May 25/26, he said.

risingbd/DHAKA/May 21, 2017/Hasnat/Amirul

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