National Board of Revenue (NBR) Chairman Md Nojibur Rahman has sought cooperation of businesspeople to implement the new Value Added Tax (VAT) law.
He came up with the call while speaking at a pre-budget discussion with owners of C and F Agents, Shipping, Freight Forwarding, Tax Lawyers, ICMAB, ICAB and Institute of Chartered Secretariats in the capital Sunday.
He said, "New VAT law will come into effect from July 1. We need cooperation of the businesspeople to implement this law,"
Nojibur Rahman said the Prime Minister delayed the enforcement of the VAT law for one year.Now the NBR will enforce the law from July 1 this year, he added.
He said the NBR has been working to give the small and medium industries more facilities under the new law. About the allegation that the enforcement of VAT law will increase the power bill of businesses, NBR chairman said power bill will not increase, rather businesses will get value addition facilities on prices of different essential commodities.
NBR chairman said there is tax waiver facility on different products such as emergency medicines, food items and many other essential products.
NBR members Barrister Jahangir Hossain, Parvez Iqbal and Md Lutfar Rahman, among others, were present at the discussion.