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Bangladesh Supermarket Owners’ Association demands a uniform VAT rate

By The Economist
Bangladesh Supermarket Owners’ Association, otherwise known as BSOA requested NBR for implementing a uniform VAT rate for all retail super shops of the country. This request is made so that they can continue the business in full pace.

The government applies a 4% VAT on sales of various supermarkets including Agora, Shwapno and Meena Bazar while authorities imposed a package VAT system to general shops according to their sizes and locations. Bangladesh Supermarket Owners’ Association prefers paying VAT on per square feet rate. Customers do not like to pay 4% VAT on sales because general shops pay a flat VAT rate.

The BSOA demanded the government either withdraws 4% VAT or implement package VAT system. It says in its statement that otherwise this discrimination will gradually destroy this sector.

In comparison with similar markets, in Indonesia, there are 14000 stores of only two chain supermarkets and 3000 are in India. Even, in Sri Lanka, there are 1000 stores while Bangladesh has only 130 such outlets though the first supermarket Agora started its operation in 2001.

Additionally Bangladesh Supermarket Owners’ Association demanded rationalization of high duty as a 65% to 106% duty currently imposed on capital machinery hampered the growth of this sector. NBR assured BSOA to consider their demands.

News initially posted on Business scenario of Bangladesh site.

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Comments

  1. DiY MindOctober 19, 2017 at 10:04 AM

    http://www.contactnumberhub.com/2017/09/shwopno-super-shop-bangladesh.html

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  3. Super shop purposeSeptember 1, 2020 at 10:47 PM

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    GM
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    Pabna
    Cell: 01717796382
    mail: pabnagoldenbasket@gmail.com

    ReplyDelete

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