NN Online:
Chief Adviser’s Press Secretary Shafiqul Alam said the recent VAT increase on various products and services would not have a significant impact on the general public.
He made these remarks during a briefing at the Foreign Service Academy on Sunday evening.
The press secretary explained that the tax-to-GDP ratio in Bangladesh has been declining since 2021. He pointed out that, in the first five months of this fiscal year, the country faced a tax deficit of Tk 42,000 crore.
The original target was Tk 1,69,000 crore, but only about Tk 1,26,000 crore was achieved. He emphasised that in order to sustain Bangladesh’s growth, tax revenue needs to be boosted, which led to the introduction of additional VAT.
He said, “Since interim government has taken charge, efforts have been focused on reducing expenses.”
He highlighted the significant reduction in the number of people travelling abroad on official trips, from 300 individuals in the past to only 40-50 now.
The briefing was attended by the Chief Adviser’s Deputy Press Secretaries Mohammad Abul Kalam Azad Majumder, Apurba Jahangir, Senior Assistant Press Secretary Faiz Ahmed, Assistant Press Secretary Ashrofa Imdad, and Suchismita Tithi.
