Bangladesh Gazettes Law Announcing Supplementary Duties, VAT Rates on Various Products, Services

The Bangladeshi Official Gazette Jan. 22 published VAT S.R.O. Nos. 38, 39, 40, and 41, announcing supplementary duties and VAT rates on various products and services. The orders include measures to: 1) reduce the supplementary duty on mobile phone services to 20 percent from 23 percent; 2) withdraw the 10 percent supplementary duty on internet service providers (ISPs); 3) reduce the VAT rate for medicines at the local business level to 2.4 percent from 3 percent; 4) reduce the VAT rate on the sale of non-branded clothing to 7.5 percent from 15 percent, and increase the VAT rate on branded ...