VAT, ATV relief for Moheshkhali LNG terminal

M A Rahman Masum: The National Board of Revenue (NBR) has waived Value Added Tax (VAT), Advance Trade VAT (ATV) and supplementary duty on first liquefied natural gas (LNG) terminal at Moheshkhali in Cox’s Bazar.

NBR has issued a notification in this regard recently. A top official of National Board of Revenue confirmed the matter to risingbd.com.

According to the notification signed by NBR Chairman Md Nojibur Rahman, LNG terminal at Moheshkhali in Cox’s Bazar, having a capacity to process 500mmcfd of liquefied natural gas per day, will get VAT exemption facilities.

On April 20, a deal was signed between Summit Group and Petrobangla (Bangladesh Oil, Gas & Mineral Corporation) to build the LNG terminal in Moheshkhali.

The LNG facilities are scheduled to be completed by 2018 on the base of build–own–operate–transfer (BOOT), according to the contracts signed with the two companies.



risingbd/Dhaka/Dec 21, 2017/M A Rahman/Nasim/Mukul