5pc VAT on e-commerce, online shopping

Staff Correspondent: Finance Minister AMA Muhith has proposed to impose 5 per cent VAT on all e-commerce, including those using Facebook for sales, in the budget for fiscal 2018-19.

Previously, back in 2015, Muhith tried to impose a 4 per cent VAT on e-commerce business, which he was forced to withdraw on pressure from stakeholders.

IT, e-commerce entrepreneurs and business leaders have always seen big prospect of the industry and has pushed the government to keep it out of VAT purview until 2024.

risingbd/Dhaka/June 7, 2018/Nasir/Mukul