VATLive > Blog > VAT > Bangladesh VAT compliance update - Avalara

Bangladesh VAT compliance update

  • VAT
  • 14 June 2014 | Richard Asquith

Bangladesh VAT compliance update

The latest Bangladeshi budget contains a range of changes to the compliance regime to help reduce the administrative burden for companies. The current Bangladeshi VAT rate is 15%.

The compliance changes include:

  • A limit of the levels of fines for VAT evasion now set to 50% of the value of the goods concerned. Previously there had been no upper limit.
  • Phased withdrawal of the complex base value systems for calculating VAT on a number of goods and services
  • Introduction of online VAT returns and VAT registrations through a special portal
  • Reclassifications to higher reduced VAT rates of many services
  • Imported mobile phones will be subject to 15% VAT instead of 10%

Latest Bangladesh news

Bangladesh VAT implementation 2021

December 20, 2018

Bangladesh is planning to introduce an overhauled Value Added Tax regime in January 2021. It will replace the existing VAT regime, which lacks many...

Bangladesh VAT update

June 8, 2017

Bangladesh’s 2017 budget includes a number of changes to the VAT regime.  These include: A new 4% turnover tax will be levied on businesses with...

Bangladesh simplifies tourism VAT

July 30, 2016

As part of the 2016/17 budget, Bangladesh has consolidated the VAT rates on a number of tourism-related services. Hotel VAT has been cut from 15%...

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.
VATlive newsletter

Sign up for our free newsletter stay up-to-date with the latest tax news.

VAT Voice

Sign-up to VAT Voice, Avalara’s monthly round-up about VAT and legislation updates to help you stay ahead of the curve.