DHAKA: Finance Minister AMA Muhith has proposed 4 percent VAT on online trading of goods and service.

While placing budget for 2015-16 fiscal year, the minister said, “Trading of goods and services online is now being recognized and established as a very popular mode. Although this sector is not exempted from VAT right now, no exact definition of this service is currently there in the existing VAT system.

Hence, I propose to define this service under the VAT system as well as propose to impose VAT at the rate of 4% on this service sector, he added.

BDST: 1855 HRS, JUNE 4, 2015
AKA/SMS