VAT and Supplementary Duty Bill placed in JS

A bill, titled 'Value Added Tax and Supplementary Duty (Amendment) Bill, 2015, was placed in Parliament (Jatiyo Sangsad) to increase the ceiling of any individual economic activity from Tk2.40 million to Tk3.0 million for enlistment in paying VAT. Finance Minister AMA Muhith placed the Bill in the House and it was sent to the respective Parliamentary Standing Committee for further scrutiny. The Committee was asked to submit its report within a month. According to the Bill is the turnover of any individual's economic activity touches Tk3.0 million, then he or she will be eligible to pay VAT for his economic activity. In the objective of the Bill it was stated that the original law was passed by Parliament on November 27, 2012, and the government has decided to implement the law fully from July 1 next year. In this context, various programmes, including automation, are being carried out in the country. It also says that if the amendment in the proposed bill is accepted the law would be more pro-taxpayers friendly one, according to a news agency.