• Monday, Aug 20, 2018
  • Last Update : 10:18 am

NBR: No VAT on remittances

  • Published at 08:23 pm June 13th, 2018
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'It’s completely false and a rumour,' reads the NBR-issued statement

The National Revenue Board has confirmed that no VAT was imposed on remittances in the proposed budget for 2018-19 fiscal year.

The confirmation came amid “rumors” spreading on social media that the finance minister, in his budget speech last Thursday, proposed the imposition of a supplementary VAT on remittance amounts above Tk21,000.

 “It’s completely false and a rumour,” reads the NBR-issued statement.

Echoing the revenue board’s statement, State Minister for Foreign Affairs, M Shahriar Alam, also urged non-resident Bangladeshis not to pay heed to any rumours of VAT or tax being imposed on remittances, reports UNB.

"There was no such discussion. Don't pay heed to rumours," he wrote on Facebook.

"This may be an act of those who send money illegally (non- banking channels). With them, anti-government people are there too." 

The state minister also put emphasis on disseminating correct information to expatriates instead of creating confusion with false news.

Earlier, a video went viral in which a Bangladeshi, who claimed to be from Malaysia, sharply criticized Finance Minister AMA Muhith for imposing tax and VAT on the income of expatriates.