Dhaka: 7:23 AM, Thu, 21 Nov, 2019

Export sectors to get VAT relief on utilities

News Desk : risingbd.com
Publish on: 2019-10-19 9:25:26 PM     ||     Updated: 2019-10-26 10:15:15 AM

The export-oriented organizations or the industries in Export Processing Zone Authority (EPZ) will get exemption from payment of value-added tax (VAT) on utility services like gas, water and electricity bills.

However, the farms will have to fulfill six conditions to get the VAT exemption facilities.

Sources said that National Board of Revenue (NBR) issued an order in this regard on October 13.

According to the order signed by Md Tarek Hasan, second secretary of VAT Act and Rules division, said some rules should be followed to get this offer.

The rules include - exporters must submit their applications by the 15th of a month to enjoy VAT exemption on the bill of that particular month.

The relevant VAT commissioner will inspect and scrutinise names, addresses, VAT registration numbers and VAT returns before issuing the exemption order.

Dhaka/MA Rahman/Nasim