- Bangladesh plans to introduce a uniform VAT rate for small businesses.
- The current VAT system is fragmented, with multiple reduced rates of 5%, 7.5%, and 10% for different sectors.
- Small enterprises below the BDT 30 million registration threshold currently pay a 3% turnover tax.
- The government also aims to expand the VAT net.
Source: today.thefinancialexpress.com.bd
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.
