VAT
Why VAT on imported software does not make any sense
It goes without saying that this whopping 20% increase in import duty for software is a massive one. Not only does it mean an increased price tag for essential software like Word and Windows OS, but it also reduces the accessibility of premium, full versions of such software for local users.
‘Rise in tax to fuel prices of construction materials’
Realtors today said the cost of various raw materials, including rod and lift, will increase in the next fiscal year because of the increase in value added tax and customs tariff.
Mobile handsets to be costlier
The price of the handsets will go up as the government today proposed 5 percent value-added tax on mobile handset sales.
Accelerate use of EFDs, ramp up monitoring
The National Board of Revenue should accelerate the use of electronic fiscal devices (EFDs) and ramp up monitoring to eliminate non-compliance with a view to raising more value-added taxes using technologies, said former top taxmen and economists.
VAT Intelligence freezes bank accounts of Mr Baker Cake & Pastry Shop
The VAT Intelligence has frozen bank accounts of Mr Baker Cake & Pastry Shop on allegation of evasion of value added tax, said its Director General Moinul Khan.
Is VAT a regressive tax on the poor?
The share of value-added tax (VAT) in the national exchequer has continuously been creeping up ever since its introduction more than 27 years ago, and has increased in recent years to the point where it is the single biggest slice of revenue collections by the government.
Garbage dumped to collect VAT from Cox’s Bazar hotels
Cox’s Bazar municipality authorities have dumped garbage in front of four residential hotels in a bid to collect taxes as the hotel managements did not pay it despite several notices were served.
Realise revenues from Google, Facebook, YouTube, HC asks govt
The High Court orders the government to realise appropriate tax, VAT and other charges from the revenues earned by different digital platforms like Google, Facebook, Amazon, Yahoo and YouTube.
Ministers stand by Muhith
Ministers and senior MPs from the ruling alliance yesterday in parliament spoke in defence of Finance Minister AMA Muhith and
New Vat Plan: Govt may back off for now
The government may backtrack on its plan to implement the new VAT law from July this year, in the face of pressure from a section of
Meeting the revenue target
The government's focus on mega projects, skills development and job creation are commendable.
VAT to push up cost of living
The government has backtracked from its decision to roll out the new VAT law from July due to resistance from businesses and a section of revenue officials and inadequate preparation from the National Board of Revenue.
Electronic cash register outside district towns to be mandatory
To ensure deposition of VAT by traders outside district towns, the government has planned to make it mandatory for trading units outside the district towns to use Electronic Cash Register (ECR) and point of sale (POS) system.
Package VAT doubled for small traders
In face of protests from businessmen, the government has decided not to implement a flat VAT rate for small traders and instead almost doubled the package VAT.
Govt backtracks on new VAT law
The government has backtracked on its move to implement the new VAT law from the start of the new fiscal year in the face of resistance from businesses, a section of revenue officials and inadequate preparation by the National Board of Revenue (NBR).
VAT law could spell trouble
That the government needs to increase revenue is understandable, given that we are looking at wholesale promotions within the bureaucracy and a new revised wage board that has to be implemented for State officials. However, one has to take into account at what cost will revenue be increased. Going by what has been published in the press, everything from electricity to apparels will be more expensive – products and services will boast at least a 15 percent increase in selling price.
15% uniform VAT from next fiscal: Muhith
Despite opposition from businesses, Finance Minister AMA Muhith says a uniform 15 percent VAT will be applicable from next fiscal year.
Mobile operators for lifting VAT on internet use
In a pre-budget discussion, mobile operators urges the government to remove value added tax (VAT) on internet use in the upcoming fiscal plan for 2016-17.
7.5% VAT on English medium school tuition remains
The Supreme Court stays a High Court order that halted the 7.5 percent value added tax (VAT) on the English medium schools’ tuition fees.
