Bangladesh, Aug. 26 -- The tax authorities will be doing a great favour to the poor consumers if they scrap the new value added tax (VAT) calculation method, introduced under an order issued on July 23 last.
The revised calculation method might help the National Board of Revenue (NBR) to raise its revenue earnings by a very thin margin (0.38 per cent). But the consumers, it seems, would have to pay far more than that amount from their own pockets.
Soon after issuance of the order, the Bangladesh Association of Pharmaceutical Industry (BAPI) wrote to the NBR claiming that the new calculation method would add to their VAT burden. The association suggested an alternative calculation method that, according to it, would keep the VAT amount at ...