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Muhith hints at lifting VAT on internet

  • Published at 03:44 pm February 22nd, 2018
  • Last updated at 07:35 pm February 22nd, 2018
Muhith hints at lifting VAT on internet
Finance Minister AMA Muhith has hinted at withdrawing the 15% VAT on internet. “We hope to come up with a positive decision on VAT on internet by June,” he said in his speech as a chief guest at the inaugural session of BASIS Softexpo 2018 on Thursday. The Bangladesh Association of Software and Information Services (BASIS) organized the event at the Bangabandhu International Conference Centre. Muhith said: “We have made huge progress in information technology over the last 20 years. We have to advance more. Software export has increased. We hope to reach the software export target of $1 billion before due time.” The minister asked related authorities to take measures for increasing Wi-Fi zones across the country for a speedy progress of technology. Telecommunication and ICT Minister Mustafa Jabbar, who was present at the ceremony as a special guest, said: “We are currently able to export software of $800 million from previous $26 million. The export will be raised to $1 billion by the end of this year.” He hailed the finance minister for 10% cash assistance in ICT products and export services and imposing only 1% import duty on 94 products. Jabbar said due to this decision a firm will be able to manufacture computers and three firms will manufacture mobile phones equipped with 4G. “We are being promoted to a manufacturing nation from an importing one,” he said. The ICT minister urged Muhith to lift the 15% VAT on internet and not to impose taxes while replacing mobile SIMs with 4G connectivity. BASIS President Syed Almas Kabir presided over the session. More than 30 seminars will be held during the four-day expo that will continue until February 25. It will open at 10am and close at 8pm. This article was first published on banglatribune.com