Shopping malls and super shops all over the country cannot run and operate without Value Added Tax (VAT) registration, the National Board of Revenue (NBR) through a Supplementary Revenue Order (SRO) said on Sunday, reports BSS.
The SRO said shopping malls and super shops, which had annual turnover less than Taka 50 lakh would also be required to have VAT registration.
The SRO also published a list of 100 products and 92 services, and made VAT registration mandatory for the organizations involved in production and marketing them.
NBR took the move following malpractice by many organizations of showing annual turnover below 50 lakh to dodge VAT, as per the VAT and Supplementary Duty Act, 2012.
The new VAT law was enacted from July 1, this fiscal year.
MRK
