The National Board of Revenue (NBR) is all set to withdraw the existing Value Added Tax (VAT) and reduce duty on the import of security software, including antivirus, to keep their prices affordable.
The import duty on antivirus and security software like database, operating system and development tools will be reduced at 2% from the existing 5%, said officials.
Finance Minister AMA Muhith has already approved a NBR proposal in this regard.
The NBR will issue a statutory regulatory order (SRO) by this week as the vetting process from the Law Ministry has already been accomplished, according to NBR office.
The NBR made the decision in line with a proposal from Bangladesh Association of Software and Information Services (BASIS).
According to BASIS letter: “Such software are not developed in the country, so there is no alternative to the import of these products to meet country’s demand for security software.”
Currently, there is a total of 26.07% duty including 5% custom duties, 15% VAT and 4% advance trade VAT on import of security software.