- Bangladesh plans to implement a uniform 15% VAT rate across all sectors.
- The National Board of Revenue (NBR) Chairman stated there will be no compromise on advance income tax (AIT) collected at the import stage.
- Currently, reduced or truncated VAT rates are applied in different sectors, but this will change to a standard rate.
- Development partners have criticized the current system for distorting the tax structure.
- NBR previously considered making VAT registration mandatory for business bank accounts to expand the VAT net.
Source: regfollower.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.
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