Traders issue ultimatum for previous package VAT restoration by Nov 20

Staff Correspondent | Published at 10:44pm on October 30, 2016


Traders hold a protest rally against the new VAT act in front of the Federation of Bangladesh Chambers of Commerce and Industry office in Dhaka on Sunday. — New Age photo

Small and medium businesses on Sunday issued a 15-day ultimatum to the government to restore pervious status of package value-added tax, otherwise traders would enforce strike for indefinite period.
Babosayee Oikkya Forum, the platform of small and medium traders, issued the ultimatum at a protest rally
in front of the Federation of Bangladesh Chambers of Commerce and Industry in the city.
Demanding restoration of pervious status of package VAT, the general secretary of the forum Abu Motaleb said that if the government does not meet the demand by November 20 the traders would enforce strike for indefinite period.
He said that as per an earlier announcement, traders would observe day-long strike in the business houses on November 2.
Motaleb said that the increase of package VAT to Tk 28,000 from Tk 14,000 for the businesses having annual turnover below Tk 80 lakh was impractical and it would ruin the small and medium entrepreneurs.
The business people who want to pay VAT are being harassed while the NBR officials are receiving bribe from the businessmen who are not paying VAT, Motaleb alleged.
The acting FBCCI president Shafiul Islam Mohiuddin said that small traders contributed highest in the economy, but it was unfortunate that they have been forced to take to street to realise their logical demands.
He urged the finance minister and National Board of Revenue to resolve the VAT related issue immediately.
Babosayee Oikkya Forum president Abdus Salam, the former FBCCI vice president Helal Uddin, Dhaka Mohanagar Shop Owners Association president Toufiq Ehsan, among others, addressed the rally.
A good number of traders from Dhaka city, Narayangonj and Gazipur took part in the rally.