‘Not VAT, but income tax from private university owners’

Staff Correspondent: Finance Minister Abul Maal Abdul Muhith said the government will not impose Value Added Tax (VAT) on education, but tax on income of private university owners.

In reply to a query, the Minister made the disclosure at dividend hand over programme of the Investment Corporation of Bangladesh (ICB) at the secretariat on Tuesday.

The Minister said, “I told something wrong yesterday (Monday). No VAT will be imposed on private universities. But they will have to pay tax of their income.”

“There many private universities are making profit. They will have to pay income tax,” he added.

 

risingbd/Dhaka/April 10, 2018/Hasnat/A K Azad