Bangladesh, Jan. 16 -- The International Air Transport Association (IATA) has urged the government of Bangladesh to support development of the aviation industry by removing the 15% Value Added Tax (VAT) on aeronautical and related services rendered by the Civil Aviation Authority of Bangladesh (CAAB) on international air transport.
"The air transport sector is a key contributor and enabler for Bangladesh's economy. It generates US$ 769 million in Gross Domestic Product (GDP) and provides 129,000 jobs. However, the full potential that the air transport sector brings cannot be realised without a cost-competitive environment," wrote Alexandre de Juniac, IATA's Director General and CEO, in a letter to Bangladesh's Prime Minister.
According to...