No VAT on purchases at supershops: NBR

Value Added Tax

Dhaka, Feb 20 - Customers will no longer have to pay Value Added Tax (VAT) for purchases at the superstrores.

The retail price of the products will be the final price to pay, according to a National Board of Revenue (NBR) release.

The NBR's VAT department issued a notification in this regard on Thursday.

The NBR authorities and the supershop owners took the decision following several meetings.

Earlier, VAT rates varied ranging from 1.5% to 5%, with a 7.5% rate applied during last year’s budget.

Chain super shop owners had been objecting this for a long time. - UNB