- The VAT increase will not affect the prices of essential commodities due to the government waiving duties on these items at import
- The council of advisers to the interim government has approved a VAT imposition on 43 goods and services
- This includes a 15 percent VAT on restaurants, sweets, clothing, and tissue paper
- Currently, restaurant bills attract a 5 percent VAT, while sweets, clothing, and tissue paper have a 7.5 percent VAT
- VAT has been increased for restaurants rated above three stars, with an additional Tk 10 charge considered insignificant financially for consumers
- There are no VAT plans for lower-tier eateries like roadside diners, which are frequented by many low-income individuals
- Restaurants with an annual turnover exceeding Tk 50 lakh will be subject to this new VAT rule
Source: images.thedailystar.net
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.
