DHAKA: In budget speech, Finance Minister AMA Muhith has proposed to increase the rate of VAT being paid by private educational institutions.

He said, “Although VAT at a truncated rate of 7.5 percent is currently levied on English Medium School; the Private Universities, Private Medical Colleges and Private Engineering Colleges are still beyond the boundary of the VAT net.”

“I hereby propose to bring these sectors under VAT net as well. However, in order to keep the tax burden at a rational level, I propose to impose VAT at the truncated rate of 10 percent on these sectors,” the minister added.

BDST: 1749 HRS, JUNE 4, 2015
AKA/SMS