Further to the 2019-20 Budget Measures introduced through the Finance Act 2019 ({News-2019-07-11/A/3-previous coverage}), Bangladesh has also implemented the measures of the Value Added Tax & Supplementary Duty Act, 2012 with effect from 1 July 2019 as part of the Budget. Some of the key measures include:
General VAT Changes
General changes regarding VAT registration, rates, and administration include the following:
- An increase in the general VAT registration threshold from BDT 8 mil…