A number of civil society organisations (CSOs) Saturday at human chain demanded cancellation of the new VAT law that imposes a single rate of 15 per cent value added tax (VAT) for all goods and commodities.
Experts present there said this new VAT will increase poverty and also hinder the development of the small and medium entrepreneurships (SME) in the country.
Twenty-three civil society organisations including COAST Trust, Equity Bd, Bangladesh Bhumiheen Samity, Online knowledge society, Udayan Bangladesh, Synergy Institute and Humanity Watch and National Labour Alliance Bangladesh formed the human chain in front of the National Press Club in the city.
Mustafa Kamal Akanda, director of Equity BD coordinated the post-human chain programme.
Ahsanul Karim, director at Equity BD presented the keynote which said Bangladesh government finalised the VAT law in 2012 according to IMF prescription.
A single rate of 15 per cent VAT will be imposed on all products and services supposed to be effective from the financial year 2015-16 based on the IMF instruction.
This will result in price hike of various essentials, the paper said.
The keynote said IMF does not make this type of prescriptions for the welfare of countries like Bangladesh rather its intention is to ensure interests of multinational companies.
Badrul Alam, secretary of Bangladesh Krishok Federation said the new VAT law will create additional burden for the farmers, small scale agro based businesses and other SMEs.
Direct tax must be collected form multinational companies rather than imposing new tax burden for the poor.
He said various multinational companies (MNCs) are evading taxes using various techniques.
tonmoy.wardad@gmail.com
Cancellation of new VAT law demanded
FE Report | Published: April 26, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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