The VAT on refrigerators and freezers is set to rise from 5% to 7.5%. This change is expected to make these essential household appliances more expensive for consumers, especially during the hot summer months.
The refrigerator market in Bangladesh, valued at around Tk15,000 crore annually, will also be impacted by the VAT hike. As these freezing appliances are vital for everyday life, the price increase could strain household budgets.
Finance Minister Abul Hassan Mahmood Ali presented the proposed budget for the 2024-2025 fiscal year amounting to Tk797,000 crore (Tk7.97 trillion) in parliament on Thursday.
This was his first budget unveiling and the first budget after the reelection of the Awami League government in January.
