Uniform VAT to be 15%

Finance Minister AMA Muhith today proposed that the uniform VAT will be 15 percent in the fiscal.

He came up with the proposal while placing the country’s annual budget for fiscal 2017-18 at the parliament.

“First of all, I would like to say that VAT will be applicable at a single and uniform rate. This rate will be 15 percent which will be unchanged over the next three years,” he said in his budget speech.

Muhith did not budge on plan of keeping 15 percent uniform VAT in the next fiscal though he recently said that the government was considering reduction of the rate to 12 percent.