Prime Minister Sheikh Hasina has directed National Board of Revenue (NBR) to reduce Value Added Tax (VAT) imposed on essential commodities including edible oil.
The direction came from the virtual cabinet meeting presided over by the Prime Minister on Monday.
After the meeting Cabinet Secretary Khandker Anwarul Islam briefed the newsmen at the secretariat. He said, the Law Minister has given his consent to the file for reducing tax on the essential items at the consumer level. An SRO will be issued in this regard today. The cabinet has asked for reducing tax at the highest level during import of essential commodities.
Anwarul said, not only for the edible oil, moreover for sugar and other essential items directions have been given to reduce VAT.
He said, VAT will not be lifted totally. Because, NBR has to maintain its calculations. The cabinet has directed the authority to charge VAT at the lowest level.
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