Businesses hail VAT law holdup

The business group yesterday expressed gratitude toward the administration for conceding the usage of the uniform 15 percent VAT for a long time and cutting extract obligations on bank stores.

"The administration has taken a practical choice by proceeding with the current VAT laws and deferring the better and brighter one," said Shafiul Islam Mohiuddin, leader of the Federation of Bangladesh Chambers of Commerce and Industry, at a press preparation.

The move, which thought about the stresses of the business group and the overall population, would go ahead to upgrade trust between general society and private areas.

A harmonious domain to execute the new VAT law is yet to be set up, so the deferment would give the National Board of Revenue and the business group adequate time to set he up, said.