• Friday , 21 Jul 2017
Published : 30 Apr 2017, 19:10:55AA-A+
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New VAT law: Muhith, businessmen exchange heated words

Samakal Correspondent
The businessmen on Sunday exchanged heated words with Finance Minister AMA Muhith over the upcoming value-added tax (VAT) law.


Uproar broke out at an advisory discussion of the new budget jointly organised by National Board of Revenue (NBR) and Bangladesh Chambers of Commerce and Industry (FBCCI) at Bangabandhu International Conference Centre (BICC) in Dhaka.


At the discussion, Business Unity Forum Secretary and FBCCI Director Abu Motaleb claimed that NBR and FBCCI are jointly working with VAT but the outcome is zero.


He said, "The government was levying the new VAT without providing small businesses sufficient training. How a businessman in Chwakbazar will know what electronic cash register is?"


The government delayed the implementation of the new VAT law in the face of protest from small and medium businesses, Motaleb said.


He also threatened the government to take to the streets to wage their demands.


“If you wage movement we will stop it,” Muhith replied adding that only 32,000, out of eight lakh VAT registered firms, submit the VAT returns.


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