Muhith hints at relief for small traders in VAT law

Staff Correspondent | Update:

Abul Mal Abdul MuhithFinance minister AMA Muhith on Wednesday hinted at certain amendments to the VAT Act that is set to come into effect on 1 July.

He said the changes might bring some relief to the businessmen.

The minister made this hint at a function at National Board of Revenue (NBR) following resentment expressed by businessmen especially small traders.

Muhith mentioned that the amendments would be made through the next finance bill that is passed as part of rubberstamping of the national budget.

"Whatever is in the VAT law shall be clear in the national budget," he said.

According to reports, the government may raise VAT exemption limit for the small traders.

The VAT law which is scheduled to come into effect from 1 July, proopsed a flat 15 per cent rate.

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