IMF Proposes Uniform 15% VAT Rate for Large Businesses
The International Monetary Fund (IMF) has proposed that Bangladesh implement a uniform 15% Value Added Tax (VAT) on all goods and services for businesses with an annual turnover exceeding Tk 3 crore.
This recommendation aims to simplify the VAT system by eliminating various tax rates and exemptions currently in place. The National Board of Revenue (NBR) is reviewing this proposal, considering potential impacts on prices, businesses, and the informal sector’s ability to comply with record-keeping requirements.
