Finance Adviser Dr. Salehuddin Ahmed has said that paying extra VAT is better than making under-the-table transactions.
He made the remarks on Monday during his keynote address at a seminar titled "Reforms in Customs, Income Tax, and VAT Management to Address LDC Graduation" held at the NEC Conference room at Sher-E-Bangla Nagar in the capital.
The Finance Adviser highlighted that while VAT may involve some additional costs, it comes with benefits in other areas. He stressed that businesses would no longer need to incur extra charges across various sectors and would instead only be required to pay VAT.
He also mentioned that transport costs, such as the Dhaka-Bogura track fare, have been reduced. "Be patient, we are using the VAT to fund major development projects like the Matarbari Port. We are not collecting VAT for our pockets but for the public's benefit," he said.
Highlighting the importance of reforms, the Finance Adviser also mentioned that key reforms would be implemented. "I remember paying a bribe of Tk20,000 to get a telephone line. We are working on reforms so that such corruption is eradicated. We will focus on reforms in tax, policies, and VAT," he added.
Bd-pratidin English/ Afia
