The global lender, however, pointed out that the implementation of Value Added Tax (VAT) act 2012 would not push the inflation up. “The proposed budget is very ambitious based on ambitious macro-economic target. Meanwhile, the World bank thinks that an effective implementation of VAT will not put much impact on inflation. WB termed the proposed budget “Long on hopes, short on assurance” since there is no specific plan for implementation. In order for ensuring an effective implementation, the World Bank stressed the need for increasing institutional and administrative capacity.

Source: Dhaka Tribune June 20, 2017 18:45 UTC