Business

Kamal rules out gap with business community on VAT law

Finance Minister AHM Mustafa Kamal

Business Report
Finance Minister AHM Mustafa Kamal on Tuesday last ruled out any distance between the government and the business community including FBCCI as the government in moving forward to implement the new VAT law from this first of July.
“I think now there is no distance between the government and the FBCCI, as all of those gaps have been minimized. We’re now looking forward to implement this VAT law from the first of July,” he said.
Earlier media report had said FBCCI has written to NBR that they are in the dark how faar the new VAT law has accommodated their recommendations and it needs to be clear to make the law acceptable to business.
The Finance Minister ruled out the gap in a briefing to reporters at his Economic Relations Division (ERD) office after holding a meeting with the leaders of FBCCI this afternoon.
The National Board of Revenue (NBR) Chairman MdMosharraf Hussain Bhuiyan, FBCCI President Sheikh FazleFahim (elect), outgoing President Shafiul Islam Mohiuddin and immediate past BGMEA President Siddiqur Rahman were present, among others.
The Finance Minister said there was some sort of misunderstanding with the FBCCI that they earlier demanded of the government to have a look at the final draft of the VAT law before passing it in parliament.
But, there is some technical difficulty as there is no such provision in the law to discuss over the final draft of the law until it is passed in parliament, Kamal said.
“If we don’t have the cooperation from the business community, then the entire exercise will be frustrated. For this, we seek their cooperation in a bigger way,” he added.
Kamal said that the FBCCI and the business community have now assured him that they do not have any objection now over the law as all of their demands have been incorporated.

Leave a Reply

Your email address will not be published. Required fields are marked *