I-O Coefficient under VAT: Few implementation issues
Dhaka, Dec. 9 -- Input Output Coefficient shows Value Added Tax (VAT) officials the quantity of raw materials needed (wastage included) for production of each unit of a product. There are provisions for filing of Input Output Coefficient (I-O Coefficient) in the VAT law. A manufacturer is required to file the names of raw materials, prices of raw materials and packing materials, the rate of wastage and the rate of value addition of a unit of product in Mushak-4 (Mushak is the short form of Value Added Tax in Bangla). Input-output coefficient administration is essentially based on the "self-declared" approach in Bangladesh's VAT system. The VAT department has no standard (i.e. pre-tabulated standard) coefficients and it is reasonably so gi...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.