Asian University for Women (AUW) has been given value added tax (VAT) exemption for place and house rent for the sake of expanding women education, reports BSS.
National Board of Revenue (NBR) in last week issued a Statutory Regulatory Order (SRO) to this end saying, the AUW has been running by the foreign finance without any intention of making profit.
Considering this aspect, the NBR under the section 126 of the VAT Act, 2012 has given the exemption to the AUW. The AUW was established in 2006 in Chattogram with the aim of developing leadership from the backward and underprivileged women in the Asia providing higher education.