new VAT law

Service sector seeks more time

Businesses in service sector have sought more time for enforcement of the new Value Added Tax (VAT) law by the government warning that implementation of the law from July 1 could create an unstable situation in the country, reports BSS. Leaders of service sector were addressing a pre-budget discussion meeting with National Board of Revenue (NBR) with NBR chairman Md Nojibur Rahman in the chair. Owners of hotels, restaurants and guesthouses attended the meeting.
President of Outsourcing and Logistic Service Providers Association (OLSPA) and director of FBCCI Abu Naser said implementation of new VAT law could create a volatile situation in the country. The government should give more time to implement the law for its proper implementation, he said.
President of Bangladesh Restaurant Owners Association Md Rezaul Karim Sarkar proposed reduction in the rate of VAT on small restaurants to 10 percent from 15 percent.

 

new VAT law

Service sector seeks more time

Businesses in service sector have sought more time for enforcement of the new Value Added Tax (VAT) law by the government warning that implementation of the law from July 1 could create an unstable situation in the country, reports BSS. Leaders of service sector were addressing a pre-budget discussion meeting with National Board of Revenue (NBR) with NBR chairman Md Nojibur Rahman in the chair. Owners of hotels, restaurants and guesthouses attended the meeting. President of Outsourcing and Logistic Service Providers Association (OLSPA) and director of FBCCI Abu Naser said implementation of new VAT law could create a volatile situation in the country. The government should give more time to implement the law for its proper implementation, he said. President of Bangladesh Restaurant Owners Association Md Rezaul Karim Sarkar proposed reduction in the rate of VAT on small restaurants to 10 percent from 15 percent.