Finance ministry’s distance goes with businessmen over VAT law

The distance that was created between the businessmen and the finance ministry regarding activation of the projected implementable VAT law, has come to an end.

Finance Minister AHM Mustafa Kamal said, in this regard there is no distance between the top businessmen association FBCCI and the finance ministry.

He said, the new VAT law will be effective from July 1. To enact the law the distance that was created between the finance ministry and FBCCI, has been removed.

A meeting was held with FBCCI at the minister’s office at Sher-e-Bangla Nagar in the capital on Tuesday. After the meeting it was informed that the distance was removed through discussions.

According to the decision in the meeting, no tax is going to be increased rather it is being decreased in some cases. The finance ministry will increase the tax net. In this regard FBCCI will provide all out cooperation to the finance ministry.

Finance Minister AHM Mustafa Kamal said, VAT law is changeable keeping touch with the time. If any type of limitation is seen after implementation of the law then change will be brought to make it people and business friendly. VAT law will be implemented in a transparent way. It will be implemented from July 1. The businessmen have assured of all out cooperation.

FBCCI president Shafiul Alam Mahiuddin was present at that time. He said, the Finance Minister has assured us. He (Finance Minister) said that tax will not be increased rather in some sector it will be reduced. It is enough for us.

AH