Industry and the service sector increased from an annual turnover of 5 crore 80 lakh tax ceiling has proposed to Bangladesh Chamber of Industries (BCI).
The National Board of Revenue (NBR) 2017-18 during the upcoming pre-budget discussion at the conference room on the first day of the proposed BCI president Mostafa Azad Chowdhury Babu.Azad Chowdhury Babu, the Value Added Tax (VAT) and service sector industries under the new law, tax ceiling for the annual turnover increased from Rs 80 lakh to Rs 5 crore to increase request. The goods and services trade sector institutions and retail traders in each licensed on an annual turnover not exceeding 30 million worth of 5 million they will receive a VAT registration law. Association with the support of the Chamber of Commerce and the local VAT authorities will ensure 100 percent. Finished goods sector, the high turnover of 5 billion dollar company would receive an input tax credit of 15 percent VAT will be applicable to them.
