Bangladesh to Implement 2012 VAT Law on July 1, 2017

Charles Riordan

June 14, 2017

This blog was last updated on June 27, 2021

In his June 1, 2017, budget speech, the Bangladeshi Minister of Finance announced the July 1, 2017, implementation of the Value Added Tax and Supplementary Duty Act, 2012. A full copy of Bangladesh’s 2017-2018 Budget Speech may be found here. While the Act was passed in 2012, its implementation has been deferred in order to give the business community more time to prepare for the change. The Act’s most significant change is the elimination of reduced rates: from July 1, 2017 forward, Bangladeshi VAT will only be collected at a 15% rate or a nil rate. The list of exempt goods and services will also be modified. A full copy of the Act can be found here.

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Author

Charles Riordan

Charles Riordan is a member of the Regulatory Analysis team at Sovos specializing in international taxation, with a focus on Value Added Tax systems in the European Union. Charles received his J.D. from Boston College Law School in 2013 and is an active member of the Massachusetts Bar.

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