PM asks to postpone VAT law for 2 years

Prime Minister Shiekh Hasina has requested that the finance minister postpone implementation of the uniform 15 % Vat law for at least two years, as there has been a lack of response from stakeholders. The prime minister made the request at Jatiya Sangsad on Wednesday, following Finance Minister AMA Muhith’s concluding speech on the national budget for fiscal year 2017-18. The ruling party president also requested that excise duties on bank deposits be reduced. She asked for excise duties of Tk150 for deposits between Tk100,000-Tk500,000, which was originally proposed to be Tk 500.