- The Ministry of Power, Energy and Mineral Resources has proposed reducing VAT on LPG imports to below 10% and reinstating a 15% VAT exemption at the import stage to address a supply shortage.
- The ministry also recommended exemptions from the 7.5% VAT on local LPG production, VAT at the trader level, and advance income tax.
- About 98% of LPG demand is met through imports, with shortages and price hikes worsening during winter due to increased demand and lower piped gas supply.
- The recommendations were made after discussions with the LPG Operators Association and the Internal Resources Division.
- The LP Gas Traders Cooperative Society has started an indefinite nationwide strike, demanding higher distribution and retail charges.
Source: thedailystar.net
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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