Uniform VAT to stay at 15% , says Muhith

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PV Desk : Finance Minister Abul Maal Abdul Muhith has said the uniform VAT rate will remain unchanged at 15 percent.

“There’s a lot of discussion over the issue and we have decided to keep it at 15 percent in the next fiscal year,” Muhith told a group of reporters at his secretariat office in Dhaka on Saturday.

Muhith signalled that he would take the VAT-exempted annual turnover limit beyond Tk 3 million. “The new ceiling will be fixed within a day or two,” he said.

The limit of maximum 3 percent VAT on up to Tk 8 million annual turnover will also be raised to or over Tk 12 million with 4-5 percent VAT, the minister said.

“Which means we are giving special exemptions to small businesses,” he said.