UNB, Dhaka :
Commerce Minister Tofail Ahmed on Sunday said the government would not impose 15% Value Added Tax (VAT) on businessmen at a time.
“Both the finance minister and me had held several meetings with the businessmen about the implementation of the VAT law. We wouldn’t do anything that obstructs investment. We are cautious about the implementation of the new VAT law,” he said. The minister said this while addressing a seminar titled “Bangladesh is on the highway of development under the leadership of Sheikh Hasina” organised by Awami League sub-committee on Publicity and Publication held at Institute of Engineers in the city.
Tofail Ahmed said “The government will take time, if needed, it would not impose 15% VAT on businessmen at a time.” The new VAT and Supplementary Duty Act-2012 will come into effect from July 1 where the 15 per cent flat VAT rate for all sectors will be applicable instead of different rates. Parliament passed the new VAT law on November 27, 2012. It was expected to come into effect from July 1, 2015. But the National Board of Revenue (NBR) failed to enforce the law as per the plan. Bangladesh is now on the highways of development he said adding that once who termed Bangladesh as bottomless basket now they say Bangladesh is nothing but miracle. About the claim that the rise of militancy is one of hindrances to investment in Bangladesh, Tofail said it is Sheikh Hasina who successfully resisted the rise of militancy in Bangladesh.
About the observation of business representatives present in the seminar that the shortage of gas is hampering production, he said there will be no shortage of gas in future. Prime Minister’s economic affairs adviser Dr Moshiur Rahman presented keynote paper in the seminar. Addressing the programme, the adviser said the socio-economic development of Bangladesh is multi-dimensional and praiseworthy.
“Profession-based knowledge and experience will ne needed to discharge duties effectively which is an important element for the development of human resource,” he added. Awami League publicity and publication secretary Dr Hasan Mahmud and Dhaka University teacher Kazi Maruful Islam, among others, spoke at the seminar with the chairman of sub-committee on Publicity and Publication and PM’s political adviser HT Imam in the chair.
Commerce Minister Tofail Ahmed on Sunday said the government would not impose 15% Value Added Tax (VAT) on businessmen at a time.
“Both the finance minister and me had held several meetings with the businessmen about the implementation of the VAT law. We wouldn’t do anything that obstructs investment. We are cautious about the implementation of the new VAT law,” he said. The minister said this while addressing a seminar titled “Bangladesh is on the highway of development under the leadership of Sheikh Hasina” organised by Awami League sub-committee on Publicity and Publication held at Institute of Engineers in the city.
Tofail Ahmed said “The government will take time, if needed, it would not impose 15% VAT on businessmen at a time.” The new VAT and Supplementary Duty Act-2012 will come into effect from July 1 where the 15 per cent flat VAT rate for all sectors will be applicable instead of different rates. Parliament passed the new VAT law on November 27, 2012. It was expected to come into effect from July 1, 2015. But the National Board of Revenue (NBR) failed to enforce the law as per the plan. Bangladesh is now on the highways of development he said adding that once who termed Bangladesh as bottomless basket now they say Bangladesh is nothing but miracle. About the claim that the rise of militancy is one of hindrances to investment in Bangladesh, Tofail said it is Sheikh Hasina who successfully resisted the rise of militancy in Bangladesh.
About the observation of business representatives present in the seminar that the shortage of gas is hampering production, he said there will be no shortage of gas in future. Prime Minister’s economic affairs adviser Dr Moshiur Rahman presented keynote paper in the seminar. Addressing the programme, the adviser said the socio-economic development of Bangladesh is multi-dimensional and praiseworthy.
“Profession-based knowledge and experience will ne needed to discharge duties effectively which is an important element for the development of human resource,” he added. Awami League publicity and publication secretary Dr Hasan Mahmud and Dhaka University teacher Kazi Maruful Islam, among others, spoke at the seminar with the chairman of sub-committee on Publicity and Publication and PM’s political adviser HT Imam in the chair.
