Finance Minister AMA Muhith has said the decision on the changes in new VAT law implementation and the amount of excise duty on bank deposits will be announced on June 28. Prime Minister Sheikh Hasina on Monday asked the finance minister to postpone implementing the controversial new value-added tax law set to be effective from July 1. Asked about the meeting, Muhith said a meeting was held regarding the implementation of new VAT law. According to finance ministry officials, the government has planned to postpone implementation of the new value-added tax law from July 1 because of the negative impact on people’s life. On June 1, the finance minister proposed the national budget for the fiscal year 2017-2018.

Source: Dhaka Tribune June 20, 2017 07:30 UTC