Businesses termed the fiscal year 2017-18 budget as investment-friendly but said it would be a huge challenge for the government to implement it. However, quality, transparency, accountability and supervision have to be ensured for implementation of the budget. Mahbubul Alam said, “The VAT rate has been kept unchanged at 15 percent despite repeated pleas from businesses. We ask that the rate be kept between 12% and 10%.”“The VAT rate at 15 percent is too high and it will have a direct adverse impact on overall prices. The VAT rate is also comparatively low among our neighbouring countries,” added Alam.

Source: Dhaka Tribune June 01, 2017 18:56 UTC