The International Monetary Fund has set a prior condition for introducing a full 15 percent statutory VAT rate on 213 products before placing the $645 million loan proposal for the fourth tranche to its executive board.

The National Board of Revenue yesterday revised down the value-added tax and supplementary duty (SD) on nine goods and services, including mobile phone usage, internet services and medicine.

Debapriya Bhattacharya strongly criticised the interim government for increasing VAT "inconsiderately".

Healthcare seekers face higher prices for medicine due to the hike in value-added tax (VAT) on trades by pharmacies and drug stores.   

Recently, the value-added tax (VAT) and supplementary duty (SD) have been increased on nearly one hundred products and services.

The recent decisions of the interim government—tax hikes and the suspension of the TCB truck sale programme—clearly reflect the short-sightedness and inconsistency in state policies.

The National Board of Revenue went ahead with its plan to hike value-added tax and supplementary duty on goods and services despite widespread concerns that the move will stoke inflation and slow down economic activities.

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The government’s recent move to increase value-added tax (VAT) on 43 goods and services has raised two key questions: will it generate enough revenue to avoid a huge budget deficit and will it further stoke an already high inflation?

From dining out and travelling by air to purchasing sweets and clothing, the small comforts in life are going to turn costlier for a hike in value added tax (VAT) on 43 goods and services.