(MENAFN- Bangladesh Monitor) Dhaka : The National Board of Revenue (NBR) has waived the Value Added Tax (VAT) the travel agents had to pay on their commission earnings from sales of air tickets.
The 15 per cent VAT was imposed in Fiscal Year (FY) 2016-17.
A Statutory Regulatory Order (SRO), issued on November 14, signed by Md Mosharraf Hossain Bhuiyan, ndc, Chairman, NBR, waived the payment of VAT.
Officials said the VAT has been waived following demands from the Association of Travel Agents of Bangladesh (ATAB).
Manzur Murshed, President, Association of Travel Agencies of Bangladesh (ATAB), thanked Minister for Finance, the Ministry of Finance, National Board of Revenue and related government agencies for the waiver.
"I am grateful to them all for the waiver as they have realised the validity of our demands. Moreover, we are already paying AIT and OW," he added.
Travel agency officials said the ATAB's proposal for VAT exemption was ruled out by the NBR several times in the last three years. This year they have agreed to our demands.
For this, we are grateful for the present leadership headed by Manzur Murshed. Over the last three years, he had put in relentless efforts to have the VAT waived. We are grateful to him as the travel agencies of the country will be able to save around Tk 800 crore, they added.
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