VAT

An announcement from the National Board of Revenue regarding the filing of value-added tax returns have thrown businesses into trouble. The sudden move announced on April 10, came as a surprise to many businesses who have kept their offices and activities shut since the government declared general...

The tax collector has moved to remove the complexities over issuing the VAT registration after it found 80 per cent of the businesses have not updated their identification yet. Some 20,000 businesses have updated their Business Identification Number (BIN) since July according to guideline under the new...

China said yesterday it will impose retaliatory tariffs against about $75bn worth of US goods, putting as much as an extra 10% on top of existing rates in the dispute between the world’s top two economies. The latest salvo from China comes after the United States unveiled...

The country's apex trade body -- Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) -- today demanded an investigation into the "failure in widening the tax net by the NBR, although several hundred crore of taka was spent as consultancy fee for introducing the multiple VAT...

চলতি মাস থেকে নতুন ভ্যাট আইন (মূল্য সংযোজন কর ও সম্পূরক শুল্ক আইন) বাস্তবায়ন হয়েছে। সব ধরণের পণ্য ও সেবায় ১৫ শতাংশের একক হার না রেখে বেশকিছু পণ্য ও সেবায় হ্রাসকৃত হারসহ কয়কটি ক্ষেত্রে ছাড় দেওয়া হয়েছে। তা সত্বেও নতুন করে কাঁচামাল আমদানিতে অগ্রিম কর (অগ্রিম ভ্যাটের...

China will fight back against the latest US step to increase tariffs on Chinese goods, the ruling Communist Party’s People’s Daily said on Sunday amid an escalating trade war between the world’s two largest economies. ‘China is confident that it will follow its own path and do...

The revenue authority plans to buy a total of 300,000 sales monitoring devices this fiscal year to bring all shops under an online network and cut the scope for VAT evasion.  The government already gave approval to purchase 100,000 such electronic fiscal devices (EFDs) for Tk 316 crore...

The value added tax (VAT) proposed in the budget for 2019-20 on online shopping comes into effect from today, albeit at a reduced rate and under a new calculation. Amidst the e-commerce industry’s outcry and campaigns, the rate has been reduced to 5 percent...

Platforms of internet giant like Facebook, Google and You Tube are being brought under VAT law with effect from July 1. To impose tax on advertisement given in these platforms the government has taken the initiatives. Concerned said, as a result such types...

The factory activity in China contracted in July for a third month amid a tariff war with US and weak domestic demand. According to a monthly index, released on Wednesday by an industry group, the China Federation of Logistics and Purchasing stood at 49.7 on a 100-point...