Bangladesh, May 19 -- Over the past couple of years, there has been a lot of discourse regarding rates of Value Added Tax (VAT) to be incorporated in the VAT legislature of the country i.e., the new VAT law (Value Added Tax and Supplementary Duty Act, 2012) which is going to be implemented from July 01, 2019 with amendments accommodating the concerns of the stake-holders that hindered its implementation during the last couple of years causing several deferrals. VAT rates being an important concern of them, a few areas of concern need to be discussed as these may be of interest to the concerned quarters.
Presently, under the 1991 VAT law (Value Added Tax Act, 1991), there is a 15 per cent standard rate and on traders there is a five per cen...