In a move to address public and industry concerns, The National Board of Revenue (NBR) has lowered the restaurant VAT rate back to 5%, reversing the recent hike to 15% that started on January 9. The decision came after many complaints from restaurant owners and customers about the sudden increase.
The Bangladesh Restaurant Owners’ Association requested the change, saying the higher VAT was too much for restaurants already struggling with rising costs. They also warned that it could stop people from eating out, hurting businesses and the economy.
The 5% VAT had been in place for years, so the jump to 15% caused a lot of concern. By bringing back the old rate, the NBR hopes to ease the burden on restaurants and make dining out more affordable again.
Both restaurant owners and customers have welcomed the decision, hoping it will help the industry recover and grow.
Source: Business Inspection BD
