6 crore 46 lakh VAT collected at trade fair
February 10, 2020, 6:39 pm

The Dhaka International Trade Fair has collected 646 million rupees VAT this year. Last year, 7 crores 2 lakh was collected, but this time less than 56 lakh has been collected. The VAT authorities believe this has happened due to a decline in the number of stalls and visitors.
NBR will honor the highest voter of 10 organizations at the recently concluded fair. The award will be given through a special event organized by the Dhaka West VAT Authority.
This time the highest voter has been selected – Walton Hi-Tech Industries. Then there is Esquire Electronics and Sarah Lifestyle Company. These three companies have paid VAT of 37 lakh 36 thousand, 34 lakh 77 thousand and 32 lakh 5 thousand respectively.
Others to be honored include – Wrongs Electronics, Hathil Complex, Multi-Line Industries, Fit Elegance, Navana Furniture, Fair Electronics, and Bong Bakers Ltd.
Eight teams from Dhaka West VAT Commissionerate monitored the fair. 29 institutions were sued to ensure compliance with the new VAT law and to collect appropriate VAT. It imposes a fine of Rs 10,000 each and it is collected.
Read more: Fertilizer prices have not increased by 1 rupee in 11 years: Agriculture Minister
Last year, there were 35 million visitors but this year it was 23 lakh. The number of stalls in the fair this year was 487. Which is 82 less than the previous year. This year the 3-day full-day fair was closed on weekly holidays. The half-day was closed for three days. After 5 days there were no holidays.

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