Finance Adviser Dr. Salehuddin Ahmed said that the proposed VAT on several products, including medicines and clothing, is being reconsidered.
He said this while talking to reporters after the meeting of the Advisory Council Committee on Government Procurement at the Secretariat on Thursday (January 16).
Previously, Barrister Md. Badruzzaman Munshi, Second Secretary of the VAT Law and Rules Division of the National Board of Revenue (NBR), said that there is a plan to reduce VAT on some products, but no decision has been made yet. Once a decision is made, it will be announced.
He also said that on January 9, an ordinance was issued to increase VAT in the hotel and restaurant sector to 15 percent. However, it is being rolled back to the previous rate. That is, VAT in the hotel and restaurant sector will remain at 5 percent. The National Board of Revenue will issue an order in this regard today.