Bangladesh

Bangladesh VAT update

June 8th, 2017

Bangladesh’s 2017 budget includes a number of changes to the VAT regime.  These include: A new 4% turnover tax will be levied on businesses with a turnover below BDT15million The VAT registration threshold will rise to BDT15 million per annum from BDT8million A range of basic foods, agricultural supplies, public transport, pharmaceuticals, education and medical …


Bangladesh

Bangladesh simplifies tourism VAT

July 30th, 2016

As part of the 2016/17 budget, Bangladesh has consolidated the VAT rates on a number of tourism-related services. Hotel VAT has been cut from 15% to 10%. VAT on restaurant services, excluding alcohol, has been raised from 7.5% to 10%.


Bangladesh

Bangladesh changes VAT rates on certain goods

June 25th, 2014

This year’s Bangladesh budget has raised the Value Added Tax rates on a range of goods, including: VAT on restaurants is to be increased from 6% to 7.5% VAT on some language, motor and port services is to be raised from 6% to 7.5% There is to me a cut in VAT on basic cooking …


Bangladesh

Bangladesh VAT compliance update

June 16th, 2014

The latest Bangladeshi budget contains a range of changes to the compliance regime to help reduce the administrative burden for companies. The current Bangladeshi VAT rate is 15%. The compliance changes include: A limit of the levels of fines for VAT evasion now set to 50% of the value of the goods concerned. Previously there …