Dhaka, Bangladesh (BBN) – Finance Minister AMA Muhith has assured the local jewellers of reducing the Value Added Tax (VAT) from 4.5 per cent to 1.5 per cent as before on net price including making charge of gold ornament.
He said this at an emergency meeting with a five-member delegation headed by Bangladesh Jewellers Samity (BJS) president Dilip Roy at his ministry on Sunday.
Mr Muhith reportedly told the VAT member and concerned authorities present at the meeting to take necessary steps to fix 1.5 percent VAT in place of 4.5 percent fixed in the current (2011-12) fiscal year on gold jewellery.
Dilip Roy told the Financial Express (FE), a local newspaper, that the finance minister gave assurance of taking to take measures to formulate a gold policy and to reduce the recent 160 percent import duty on diamond.
Mr Roy added the minister also said necessary steps would be taken to boost up export of locally made ornaments.
BBN/SSR/AD-22Aug11-12:55 pm (BST)
