- 80 percent of jewelry shops in Bangladesh are not registered for VAT.
- The NBR collected roughly Tk 100 crore in VAT from jewelry shops in the last fiscal year.
- The NBR is installing Electronic Fiscal Devices (EFDs) to monitor sales and curb VAT evasion.
- VAT-compliant businesses are struggling because of non-compliant ones that can offer lower prices by bypassing VAT.
- The NBR is going sector by sector to bring businesses under the VAT net.
Source: 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.
