June 20, 2021

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Tax exemption on household products

good  news for those who want to produce blender or washing machine in the country. Finance Minister AHM Mustafa Kamal has proposed exemption from value added tax (VAT) and advance tax for blender production. The Finance Minister has said that VAT and advance tax exemption will be levied on several other products which are used daily for household purposes.

The Finance Minister is presenting the proposed budget for the fiscal year 2021-22 on Thursday. The budget was raised in the parliament at 3 pm.

In his budget speech, the finance minister said, “I am proposing VAT and advance tax exemption for the purpose of reducing domestic dependence on foreign products so that domestic products can be produced in the country.”

The Finance Minister has proposed VAT exemption for local production of juicers, mixers, grinders, electric kettles, rice cookers, multi-cookers and pressure cookers. Besides, it has been proposed in the budget to exempt VAT at the local production stage of Mudi and VAT at the fresh fruit trader level.

Good news for those who want to produce blender or washing machine in the country. Finance Minister AHM Mustafa Kamal has proposed exemption from value added tax (VAT) and advance tax for blender production. The Finance Minister has said that VAT and advance tax exemption will be levied on several other products which are used daily for household purposes.

The Finance Minister is presenting the proposed budget for the fiscal year 2021-22 on Thursday. The budget was raised in the parliament at 3 pm.

In his budget speech, the finance minister said, “I am proposing VAT and advance tax exemption for the purpose of reducing domestic dependence on foreign products so that domestic products can be produced in the country.”

The Finance Minister has proposed VAT exemption for local production of juicers, mixers, grinders, electric kettles, rice cookers, multi-cookers and pressure cookers. Besides, it has been proposed in the budget to exempt VAT at the local production stage of Mudi and VAT at the fresh fruit trader level.