The National Board of Revenue (NBR) has granted Value Added Tax (VAT) exemption for all activities of the July Shaheed Smrity Foundation.
Additionally, organizations providing services or products to the foundation will also be exempted from paying VAT at source, according to a notification issued by the NBR on Monday.
The notification stated that as a non-profit and service-oriented organization, the July Shaheed Smrity Foundation qualifies for VAT exemption under Sub-Section (3) of Section 126 of the Value Added Tax and Supplementary Duties Act, 2012 (Act No. 47 of 2012).
This exemption applies to all purchases and services provided by or to the foundation.
Earlier on Monday evening, the foundation's third central executive council meeting was held at the State Guest House Jamuna. The meeting was chaired by Muhammad Yunus, chief advisor to the interim government.
