In an effort to promote the growth of domestic industry, Finance Minister AMA Muhith has extended VAT exemption for local manufacturers of refrigerators and freezers by two years. The existing VAT exemption for the local manufacturers of air-conditioners was expected to end on June 30. Muhith extended the benefits for the industry to June 30, 2019 as an incentive for the sector. Palm and soybean oils have received the same benefits from the finance minister. VAT exemption has been extended for palm and soybean oils both at production and retail levels by two years.

Source: bd News24 June 01, 2017 13:18 UTC