New VAT law will not create burden on people: NBR chairman

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DHAKA, May 29, 2019 (BSS) – National Board of Revenue (NBR) Chairman Md
Mosharraf Hossain Bhuiyan today said that the new VAT law will not create any
burden on the country’s people.

“The VAT Act, 2012 (new VAT law) is being implemented with some amendments
this year. The VAT rate has been fixed in some categories. So, the new VAT
law will not create any burden on the people,” he said, addressing the
inaugural function of a three-day workshop here.

Press Institute Bangladesh (PIB) and Economic Reporters’ Forum (ERF)
organized the workshop titled ‘Training on Budget Reporting’ for the
journalists at the seminar room of the PIB in the city.

Chaired by PIB Director General Zafar Wazed, ERF President Saiful Islam
Dilal and General Secretary SM Rashidul Islam were present at the inaugural
function, among others.

Noting that the process of procuring electronics devices to realize VAT
appropriately is underway, Mosharraf said that proper utilization of those
devices will ease the VAT collection process.

Mentioning that the budget for fiscal year 2019-20 will be announced on
June 13, the NBR chairman urged the journalists not to publish such reports,
which are harmful to the country’s economy, before the budget announcement.

Special News Editor of the Daily Prothom Alo Shawkat Hossain Masum and
Joint Editor of The Financial Express Shamsul Haque Zahid attended the
workshop as resource persons on the first day of the three-day workshop.