- The interim government has decided to impose a 15 percent VAT on 43 types of products and services
- The National Board of Revenue is expected to issue an order after approval from the law ministry
- In Dhaka, the 15 percent VAT will apply to restaurant bills including those at air-conditioned venues where VAT will rise from 5 percent to 15 percent
- The cost of readymade garments will increase as VAT rises from 7.5 percent to 15 percent
- The government aims to increase revenue collection but this impacts middle and lower-class families adversely
- Questions are raised about exploring other revenue-enhancing measures instead of increasing VAT
- Reports indicate significant tax evasion by the elite yet insufficient recovery efforts are seen
- Price increases are easily implemented through official orders, unlike price reductions
- The interim government is expected to uphold its role as a symbol of hope through its future actions
Source: today.thefinancialexpress.com.bd
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.
