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Supporter of Sri Lanka’s ruling party tugs a member of anti-government demonstrator by his shirt during a clash between the two groups, amid the country’s economic crisis in Colombo, Sri Lanka on Monday. Agency photo

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Products to be cheaper

Staff Reporter : Finance minis Finance Minister Abul Hassan Mahmood Ali, while unveiling the national budget for the fiscal year 2024-25 in parliament on Thursday, announced decreases in VAT and tax on several products. As a result, prices of these products might decrease. However, the number of products with increased VAT or tax exceeds those with decreased rates. Laptop In his budget speech, the finance minister recommended waiving the 15 percent VAT applicable at the import stage on laptops. This...

Things to be pricey

Staff Reporter : Finance Minister Abul Hassan Mahmood Ali has unveiled the proposed budget for the fiscal year 2024-25, suggesting various adjustments in duties and taxes. These changes are expected to lead to potential price hikes for several products. Local Freeze and AC Nearly 90 percent of refrigerators and freezers sold in the markets are produced in Bangladesh, with a number of local brands alongside foreign companies. The finance minister proposed an increase in the value-added tax (VAT) on locally...