• Tuesday , 22 Aug 2017
Published : 17 Jun 2017, 21:19:56 | Updated : 18 Jun 2017, 12:49:22AA-A+
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Proposed National Budget

Flat prices to go up by 30pc for VAT, warns REHAB

Samakal Correspondent
The authorities of Real Estate and Housing Association of Bangladesh (REHAB) today warned, 'If proposed 15% of VAT is imposed on construction materials, the flat prices will go up by 30 percent.'


REHAB authorities came up with the claim while discussing about the proposed national budget of 2017-18 fiscal year in a program held at the Sonargaon Hotlel in the capital on Saturday.


'If the VAT is imposed on raw materials of the construction work, the cost in construction work will definitely be higher and then the flat prices will also increase,' says Alamgir Shamsul Al Amin, the President of REHAB.


The proposed national budget for the upcoming fiscal year is not actually housing-friendly, the REHAB leaders alleged.


Separate other leaders of REHAB were also present among others at the program on the day.


Earlier Finance Minister AMA Muhith proposed that the uniform VAT will be 15 percent in the coming fiscal.


He came up with the proposal while placing the country’s annual budget for 2017-18 financial year at the parliament.


The new rate for value-added tax, which has been a matter of much controversy as businesses implored the government to lower, to take effect from July 1.


Muhith, however, said, “I think I will be able to satisfy the business community by increasing the existing turnover tax and VAT exemption threshold.”


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