- The Energy Ministry has recommended reducing VAT on LPG imports to below 10% and granting full exemptions on local production, trading-stage VAT, and advance income tax to stabilize supply and address the market crisis.
- About 98% of Bangladesh’s LPG demand is met through private-sector imports, with shortages and price hikes worsening during winter and due to reduced piped natural gas availability.
- The LPG Operators Association of Bangladesh (LOAB) supports a reduced VAT rate below 10%, aligning with the ministry’s proposal.
- The ministry suggests shifting VAT collection mainly to the import stage for better transparency and efficiency.
- Separately, the LP Gas Traders Cooperative Society Limited has started an indefinite nationwide strike, halting cylinder sales and worsening shortages, demanding higher distribution and retail margins.
Source: barta24.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Bangladesh"
- NBR to Fully Automate VAT and Income Tax Refunds for Faster, Transparent Service
- Bangladesh Enables Large Corporate Tax, VAT Payments Digitally via bKash and Other Mobile Services
- NBR Enables Corporate Tax, VAT Payments via bKash and Other Mobile Financial Services
- NBR Honours Top VAT Paying Businesses and Reporters to Promote Tax Compliance and Awareness
- Energy Division Seeks 10% Import VAT, Local Production Exemption for LPG to Ease Supply Crisis
