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Law for those who don’t pay VAT: Minister

A K Azad || risingbd.com

Published: 15:05, 25 June 2016   Update: 15:18, 26 July 2020
Law for those who don’t pay VAT: Minister

Staff Correspondent: Putting emphasis on maintaining accounts by all businessmen to help implement the new Value-Added Tax and Supplementary Duty Act-2012, Finance Minister Abul Maal Abdul Muhith said the law has been enacted for those people who do not pay VAT.

He said the government is likely to provide Electronic Cash Register (ECR) machines for businessmen at the cost price or even giving subsidy to build a habit of keeping accounts.

The Minister came up with the statement while addressing a discussion on the national budget 2016-17 financial year (FY17) at Jatiya Press Club on Saturday.

Bangladesh Study Trust organised the discussion titled "Budget for fulfilling dreams".

Muhith said the number of taxpayers will go up to 20 lakh by the next two years from the existing 12 lakh regular taxpayers. Our target is 15 lakh taxpayers by next year and 20 lakh by next two years.

He said the youth community of the country has been showing keen interest to pay tax like he showed in 1955 when he just obtained master`s degree and paid tax.

"I see the same sprit among the young people," he added.

The minister said the existing gas crisis would be solved by 2018 as the government is making allout efforts to solve it.

"The LNG terminal is being constructed for importing gas. We expect that we will be able to provide gas according to the demand from 2019," he added.

National Board of Revenue (NBR) Chairman Md Nojibur Rahman and former Bangladesh Bank governor Dr M Farashuddin, among others, took part in the discussion.

Chairman of Bangladesh Study Trust Emeritus Professor Dr AK Abdul Momen presided over the discussion and delivered the keynote speech.

risingbd/Dhaka/June 25, 2016/Ahmed/A K Azad

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