Risingbd Online Bangla News Portal

Dhaka     Wednesday   12 February 2025

Notifications issued to reduce VAT rates 

News Desk || risingbd.com

Published: 16:09, 22 January 2025   Update: 19:04, 22 January 2025
Notifications issued to reduce VAT rates 

The National Board of Revenue (NBR) has issued several notifications to reduce VAT rates on several products including medicines, mobile phone SIMs and ISP services.

Medicines: In order to make medical services more accessible to all sections of the population, the previous rate of 2.4% has been maintained.

Mobile Phone and ISP Services: In order to continue the ongoing digitization activities of the country and to create a modern IT-savvy young generation and increase online-based activities, the increased supplementary duty on services provided through the use of mobile phone SIM/RIM cards and the newly imposed supplementary duty on ISP services have been completely withdrawn.

With the complete withdrawal of the increased/newly imposed supplementary duty on mobile phone and ISP services, the cost of consumers in these two sectors will not increase.

Restaurants: The additional VAT imposed on all restaurants except three-star, four-star and five-star hotels has been completely withdrawn.

It is mentionable that, the NBR has provided extensive tax exemptions in the last few months on import duty, regulatory duty, VAT, advance income tax, and advance tax on edible oil, sugar, potatoes, eggs, onions, rice, dates, and pesticides.

 VAT exemption has also been provided for e-book services at the local supply and import levels in order to ensure easy availability of books for students at all levels of Bangladesh, to build a modern and information technology-based education system, and to improve the quality of the education system. 

VAT exemption has also been provided on the fast, safe, and environmental friendly metro rail service, which plays an important role in reducing traffic congestion. 

In addition, the NBR has completely withdrawn the excise duty on Hajj tickets in order to reduce the costs of Hajj passengers.


 

NF/Mukul