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"
- NBR Expands Customs, VAT Wings and Splits into Two Divisions to Boost Revenue and Tax Base
- NBR Unveils Major Customs and VAT Reforms to Expand Tax Net and Boost Revenue Collection
- NBR Finalises Draft VAT Rules, Introduces Online Payment and Registration System
- Bangladesh Exempts Bonded Exporters from VAT on Local Procurement to Boost Competitiveness
- NBR Simplifies VAT Rules for Deemed Exports to Boost Local Suppliers
