Don’t implement new VAT law for next 2yrs, PM to Muhith
Prime Minister Sheikh Hasina today requested Finance Minister AMA Muhith not to implement the new VAT law, which envisages a uniform 15 percent VAT, for the next two years.
“Amid criticism and no response from businessmen, I request the finance minister not to fully implement the new VAT law for the next two years,” she said while taking part in a discussion on the proposed budget in the parliament.
The premier, on behalf of all, also suggested Muhith to collect VAT as per the existing law at least for the next two years.
Hasina also proposed for charging excise duty in three phases on bank deposits balance from more than Tk 1 lakh to 1 crore.
She urged Muhith to charge Tk 150 on bank deposits between Tk 1 lakh and Tk 5 lakh. Earlier, Muhith had proposed to raise it to Tk 800 from Tk 500.
She also urged to slap Tk 500 on the deposits between Tk 5 lakh and Tk 10 lakh instead of proposed Tk 800.
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