The Bangladesh government has decided to withdraw its proposal to impose a fixed-rate or 'package VAT' on small and retail businesses. The decision comes ahead of the passage of the Finance Bill as the Finance Minister Amir Khasru Mahmud Chowdhury instructed the removal of the related provision. However, the requirement for a Business Identification Number (BIN) will remain mandatory for opening current accounts in banks or financial institutions, renewing trade licenses, and opening merchant accounts with mobile financial services such as bKash and Nagad.
Currently, retail businesses with an annual turnover of 5 million taka or more are required to register for VAT, while smaller businesses remain outside its scope. The new budget proposal had aimed to bring all retail businesses under VAT coverage regardless of turnover starting July 1, which triggered concern among small traders. They feared increased operational costs and potential harassment by VAT officials.
Officials cited possible implementation difficulties and the risk of medium-sized businesses exploiting the package VAT system as reasons for reconsidering the proposal.
আমার দেশ অনলাইন প্রকাশ : ২৯ জুন ২০২৬, ১২: ৪১ ক্ষুদ্র ব্যবসার ওপর নির্দিষ্ট হারে ভ্যাট বা বহুল আলোচিত ‘প্যাকেজ ভ্যাট’ আরোপের প্রস্তাব থেকে সরে আসছে সরকার। তবে ব্যাংক বা আর্থিক প্রতিষ্ঠানে চলতি হিসাব খোলা, ট্রেড লাইসেন্স নবায়ন বা বিকাশ-নগদের মার্চেন্ট
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