Dhaka, Mon, Oct 2017

Economy

DCCI for identical 7pc VAT

06 February 2017,Monday, 23:33



Dhaka Chamber of Commerce & Industry (DCCI) has called for cutting down the VAT rate to 7 percent for all instead of the existing 15 percent.

The call was made when a DCCI delegation, led by its President Abul Kasem Khan, met Chairman of the National Board of Revenue (NBR) Md Nojibur Rahman at NBR Bhaban on Monday, said a press release.

The delegation also asked the BNR chief to give Tax Cards to all tax prayers as electronic smart cards.

Referring to 7 percent VAT, Kasem said in Malaysia their standard VAT is 6 percent while it is 7 percent in Singapore, 10 percent in Indonesia, 5 percent in Nigeria and 12 percent in the Philippines.

During the meeting, he also proposed increasing the ceiling of turnover tax to Tk 10.2 million from the existing Tk 8 million.

Nojibur Rahman said NBR will organise a national conference with all “Deputy Commissioner of Taxes” on February 9 at city’s Officers’ Club and invited DCCI to participate in the conference.

To create a tax-friendly environment in the country, he sought cooperation from the business community.

DCCI Vice President Hossain A Sikder, Directors Asif A Chowdhury, Hossain Akhtar, Humayun Rashid, Imran Ahmed, K Atique-e-Rabbani, Kh. Rashedul Ahsan, Mamun Akbar, Md Alauddin Malik, Riyadh Hossain, former Senior Vice President Haider Ahmed Khan and Secretary General AHM Rezaul Kabir were, among others, present in the meeting.

 

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