Extra VAT is better than under-table payments: Finance Adviser

Dhaka, Jan 27 (V7N) —Finance Adviser Dr Salehuddin Ahmed has said paying extra VAT is better than giving money under the table.

“We are using the additional VAT to build Matarbari port and finance various development projects. We are not pocketing the VAT for personal gain,” Salehuddin said on Monday while addressing a seminar titled “Reforms in Customs, Income Tax, and VAT Management to Address the LDC Graduation” as the chief guest at the NEC Conference Room in Sher-e-Bangla Nagar.

The adviser said: “We will implement significant reforms. I remember when I had to pay a bribe of Tk20,000 to get a telephone line. To eliminate such bribery, we will carry out reforms. We will reform taxes, policies, and VAT systems. People have many opinions about VAT, but we will bring reforms in this area.”

Highlighting the benefits of paying extra VAT, he said: “Businesspeople will not have to pay extra money in multiple other sectors. We are ensuring that the costs remain limited to VAT. For example, transportation costs like Dhaka-Bogra truck fares have already decreased. Please be patient."