- IMF proposed a 15% VAT on goods and services for businesses with turnover above Tk3 crore in Bangladesh
- NBR to review and implement feasible proposals, including abolishing reduced tax rates and VAT exemptions in certain sectors
- Standard VAT rate in Bangladesh is 15%, with exemptions for businesses with turnover up to Tk50 lakh and a 4% rate for turnovers up to Tk3 crore
- IMF also proposed amending tax limits for individual taxpayers, including raising the tax-exempt income threshold and imposing taxes on remittances, bonds, and capital gains
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
