Mid-Year Financial Strain: VAT and Duties on the Rise
VAT and Supplementary Duty Increases to Hit Consumers: Middle Class Faces New Financial Strain The interim government of Bangladesh has announced sweeping changes to VAT (Value-Added Tax) and supplementary duties in an effort to boost revenue. This move is part of a broader strategy to meet revenue targets and fulfill conditions tied to the International Monetary Fund’s (IMF) loan program. The changes, which include increases in VAT for restaurants, apparel, sweets, and non-AC hotel services, as well as excise and supplementary duties on a range of products, are expected to raise costs for consumers and businesses alike. While the government...
