The Bangladesh Jewellers’ Association (BAJUS) has urged the National Board of Revenue (NBR) to take action against jewellery establishments that lack VAT registration.
In this regard, the association sent a letter to the NBR on Monday.
According to NBR data, only 8,000 of nearly 40,000 jewellery companies in the country have VAT registration. This means that 80 per cent of them operate without contributing VAT to the government.
This situation has created unfair competition among jewellery traders and led to significant revenue losses for the government, the letter stated.
BAJUS emphasised the urgent need to bring unregistered jewellery companies under VAT registration to ensure fair competition and boost government revenue.
The association also expressed its gratitude to the NBR for installing EFD machines in all jewellery companies across the country.
Bd-pratidin English/Fariha Nowshin Chinika
