A press release from the NBR on Wednesday said that initially, 15 percent VAT had been proposed on 43 types of goods and services. These goods and services currently have VAT rates of 5 percent and 7.5 percent, respectively. The government has also taken the initiative to impose turnover tax based on the annual turnover of business establishments. Currently, turnover tax is only paid when the annual turnover is between Tk 5 million to Tk 30 million. The proposal imposes turnover tax on businesses that have turnovers from Tk 3 million to Tk 5 million as well.

Source: bd News24 January 02, 2025 11:08 UTC