Govt raises VAT to make tax-GDP ratio healthy: CA press secretary

Govt raises VAT to make tax-GDP ratio healthy: CA press secretary

Chief Adviser Press Secretary Shafiqul Alam today said the government is trying to take the country tax-GDP ratio to a healthy state by imposing a simplified 15 percent VAT (value added tax) in a bid to ensure the country economic growth.
He said this at a press briefing at Foreign Service Academy here this evening.
Alam said the tax-GDP ratio in Bangladesh has been going down since 2021. It has reached such a level this year that there is a revenue shortfall of about Taka 42,000 crore in the last five months, he added.
"We had a revenue collection target of Taka 1,69,000 crore (during last five months) but we have collected over Taka 1,26,000 crore," he said.