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SCOPE OF BANGLADESH VALUE ADDED TAX LAW

Scope of Bangladesh value added tax law:

  1. Value Added Tax Act, 1991: The value added tax Act, came into force on 1st July, 1991. It has 73 sections, numerous sub sections & three schedule.

2. Value Added Tax Rule, 1991: The National Board of Revenue prepared relevant rules under the name "Value Added Tax Rules, 1991". The rules are followed in the administration of the VAT Act.

3.Finance Act: To give effect to the various proposals in the annual budget covering the areas of direct & indirect taxes, Finace Act is issue. It contains various applicable tax rates & amendments to the Value Added Tax Act, 1991.

4.SRO (Statutory Regulatory Orders): According to the section 21 of the Value Added Tax Act, 1991; NBR can issue certain circulars as & when necessary. The provisions of these SROs are also to be considered at the time of imposing VAT.                          
                       
                                

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