DHAKA: Making the 20-year old VAT payment regulations more easy and transparent, the government has approved the draft of the Value-added Tax Act-2012.
The approval came from a regular cabinet meeting with Prime Minister Sheikh Hasina in the chair Tuesday.
Emerging from the meeting Cabinet Secretary M Mosharraf Hossain Bhuiyan told the journalists that the cabinet approved a proposal for waiving visa requirements between Bangladesh and the Philippines for the diplomats and government officials.
He said, “The VAT Act 2012 will be taxpayers friendly as tax payment system has been made more easy and convenient for taxpayers in the law.”
The cabinet secretary also said, “The VAT Act 2012 will be placed within few days in the current session of the parliament after approval of the President.”
However, the law would be executed in phases in the next three years, he added.
BDST: 1945 HRS, JUL 03, 2012
Edited by: Abul Kalam Azad, Newsroom Editor
M. Mahbub Alam, Asst Output Editor
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