Promotional gifts of the pharmaceutical companies to doctors, chemists, druggists and others along the trade line will no more be entitled to tax benefit, worth billions. Officials argue those are not raw materials (inputs) but pharmaceutical companies have obtained billions of taka in VAT rebate on the items for years. And the largesse includes even vehicles and many luxury items, they say.
Source: thefinancialexpress.com.bd
Latest Posts in "Bangladesh"
- VAT Waiver on Vessel Imports: Opportunity for Growth with Rigorous Compliance Conditions
- Bangladesh Exempts VAT on Large Vessel Imports to Boost Trade and Employment Opportunities
- Government Grants VAT Exemption on Import of Large Sea-Going Vessels
- NBR Halts Manual VAT Audits to Prevent Corruption, Plans Automated System Implementation
- Understanding Tax Refund Limitations: Legal and Erroneous Payment Criteria Under the Tax Code
