Bill to amend VAT ceiling placed in JS

A bill, titled ‘Value Added Tax and Supplementary Duty (Amendment) Bill, 2015, was placed at the Jatiya Sangsad (JS) to increase the ceiling of any individual economic activity from Tk 24 lakh to Tk 30 lakh for enlistment in paying VAT, reports UNB.
Finance Minister AMA Muhith placed the Bill in the House and it was sent to the respective Parliamentary Standing Committee for further scrutiny.
The Committee was asked to submit its report within a month.
According to the Bill is the turnover of any individual’s economic activity touches Tk 30 lakh, then he or she will be eligible to pay VAT for his economic activity.
In the objective of the Bill it was stated that the original law was passed by Parliament on November 27, 2012, and the government has decided to implement the law fully from July 1 next year. In this context, various programmes, including automation, are being carried out in the country.

Bill to amend VAT ceiling placed in JS

A bill, titled Value Added Tax and Supplementary Duty (Amendment) Bill, 2015, was placed at the Jatiya Sangsad (JS) to increase the ceiling of any individual economic activity from Tk 24 lakh to Tk 30 lakh for enlistment in paying VAT, reports UNB. Finance Minister AMA Muhith placed the Bill in the House and it was sent to the respective Parliamentary Standing Committee for further scrutiny. The Committee was asked to submit its report within a month. According to the Bill is the turnover of any individuals economic activity touches Tk 30 lakh, then he or she will be eligible to pay VAT for his economic activity. In the objective of the Bill it was stated that the original law was passed by Parliament on November 27, 2012, and the government has decided to implement the law fully from July 1 next year. In this context, various programmes, including automation, are being carried out in the country.