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ORGANISATION SNIPPETS

By City Desk
11th-Jan-2018       
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Business Initiative Leading Development
A discussion meeting on Budget for FY 2018-19 & Value Added Tax (VAT) policies was held in the conference room of Business Initiative Leading Development (BUILD) on Tuesday where a number stakeholders and policy makers were present and discussed about the dilemma between VAT Act 1991 & VAT & SD Act 2012, the meeting requested for  a clear instruction for implementation of VAT policies in Bangladesh. In the Budget speech for FY 2017-18(p-25) there was an announcement for implementation of VAT & SD Act 2012 to be effective from July 1, 2017, later on through an SRO issued on July 1, 2017  there was postponement  of  the new Act, issuing 13 SROs  and GO and 3 cancellation SROs.  Private  sector  expressed its concerns about the policies of VAT , special concerns was for VAT to be collected from cottage & small Industry that constitutes  more than of 88% of total industrial enterprises in the country. These small industries are suppliers of intermediate goods to a  number of large enterprises. For them paying VAT at 15%   is  very difficult,  if new law commences from the year 2019 there should be a preparation need to be started now for  addressing the SME issues, so that repetition of the postponement do not happen   again.  A presentation was made by BUILD.

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