DHAKA: The government reduced the volume of source tax in readymade garments (RMG) sector from proposed one percent to 0.6 percent in the national budget of 2015-16 fiscal year.

At the same time, the value added tax (VAT) in higher education in private sector was also reduced from proposed 10 percent to 7 percent.

Finance minister AMA Muhith on Monday informed the House in his concluding speech on the proposed national budget.

He also said the proposed source tax on Unani medicines and duty on cancer treatment equipment were withdrawn.

The minister also expected that the growth rate in the next fiscal (2015-16) year would be more than seven percent.

BDST: 1800 HRS, JUN 29, 2015
SR/RR/SMS