Dhaka, Feb. 20 -- The National Board of Revenue (NBR) has reduced the Value Added Tax (VAT) on both machine-made and hand-made biscuits by half.

A notification to this effect was issued on Wednesday, 19 February.

Under the new regulation, the VAT on these products has been slashed from 15% to 7.5%.

The notification specifies that the reduced VAT will apply to machine-made biscuits, as well as hand-made biscuits and cakes with a price exceeding Tk 200 per kilogram and Tk 300 per kilogram, respectively.

Earlier, in January, the government had increased VAT and supplementary duties on over a hundred goods and services, including bakery products, biscuits, and cakes.

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