Industry leaders fear the increased VAT will push many factories to the brink of closureManufacturers warn of protests if VAT hike on sweets, bakery products not rolled backLeaders of the Chattogram chapter of the Bangladesh Sweets Manufacturers Association have given the interim government seven days to roll back the value-added tax, or VAT, imposed on sweets and bakery products. They warned of large-scale protests if the government does not act within the specified period. The industry leader reiterated the long-standing demand for the VAT rate to be reduced to 5 percent or lower, calling for the withdrawal of the 15 percent VAT. Sweets and bakery products are among the affected items. If VAT and other costs increase, these items will become unaffordable for them, creating a crisis.

Source: bd News24 January 18, 2025 16:59 UTC