Confectioners urge NBR to exclude VAT on baked goods


| Update:
March 30, 2021, 4:32 p.m.

Bangladesh Bread Biscuit -O-Confectionery Prostutkarak Samity urged the National Board of Revenue (NBR) on Sunday to keep baked goods, including bread, VAT free.

Samity’s president presented the proposal at a pre-budget meeting with the NBR for the next fiscal year (FY22) held in the NBR boardroom in the Segunbagicha neighborhood, reports BSS.

The Chairman of the National Income Council (NBR), Abu Hena Md Rahmatul Muneem, chaired the meeting.

The chairman of the non-governmental consumer organization Mohammad Jalal Uddin said that in the budgets of the previous fiscal year, bread, rolls and other similar items produced in the artisanal baking industry were completely exempt from VAT.

Per kg, 150 Tk cookies and cakes (excluding party cakes) were also VAT excluded, but later VAT was imposed on the products, he added.

He proposed to keep products completely VAT-free in the next budget given the unskilled and untrained employees in the artisan bakery industry and the COVID-19 outbreak.

The Bangladesh Jewelry Manufacturers and Exporters Association also joined the pre-budget meeting with the NBR today.

Source link


About Author

Leave A Reply