Inu urges lifting 15% VAT on newspaper industry

Information Minister Hasanul Haq Inu today urged for withdrawing the 15 percent VAT on the newspaper industry as proposed in the 2017-18 budget.

Speaking at budget discussion in parliament, Inu said such imposition would poise the newspaper industry of Bangladesh into jeopardy.

“To protect the newspaper industry, I urge to withdraw the 15 percent VAT imposed on it,” he told the parliament.

Finance Minister AMA Muhith’s budget has come under criticism mainly for the flat 15 percent VAT rate he proposes to implement, and the excise duty on bank accounts.

Regarding the excise duty, Inu urged the finance minister to pardon accounts with balance below Tk 5 lakh instead of the proposed pardon ceiling of Tk 1 lakh.