VAT up for large apartments, down for small, medium flats
Senior Correspondent, bdnews24.com
Published: 04 Jun 2015 09:43 PM BdST Updated: 04 Jun 2015 09:43 PM BdST
Value added tax (VAT) for small and medium-sized residential apartments is being reduced, while being raised for large flats.
Finance Minister Abul Maal Abdul Muhith proposed the VAT revision for apartments in his budget speech for FY 2015-16 in Parliament on Thursday.
He proposed 1.5 percent VAT for flats of up to 1,100 sq ft, 2.25 percent for apartments of 1,101 to 1,600 sq ft and 4.5 percent for those over 1,600 sq ft.
The present rate of VAT on flats is 3 percent irrespective of their sizes.
More stories
Recent Stories
-
China's Q1 GDP grows at record pace as recovery speeds up
-
China’s economy is booming. Shoppers are skittish anyway
-
Pandemic drives up debt for marginalised families in Bangladesh: survey
-
Hong Kong Courts the rich as China tightens its grip
-
IMF favours global minimum corporate tax: chief economist
-
G20 to discuss uneven recovery from COVID crisis, officials say
Opinion
Most Read
- Bangladesh arrests Hifazat leader Mamunul Haque, known for hate speech and aggression
- Bangladesh committee recommends lockdown extension for another week
- Bangladesh reports 102 new virus deaths, another grim record
- Bangladesh opens largest hospital dedicated to coronavirus treatment
- Bangladesh police introduce pass for ‘movement’ in lockdown
- Bangladeshi folk fantasy, action film star Wasim dies at 74
- Bangladesh chief justice says saving lives must come before livelihoods
- Cheque clearing, electronic fund transfer services resume
- How the tiny kingdom of Bhutan out-vaccinated most of the world
- IEDCR crunches grim data: Coronavirus patients are dying faster