Tickets for domestic, SAARC, and other foreign destinations would cost more as a result of the National Board of Revenue’s (NBR) proposal to raise the current excise charge on airline tickets.
NBR sources claim that the excise tax on airline tickets issued locally is going up from BDT 500 to BDT 700. The duty will be increased for SAARC nations, going from BDT 500 to BDT 1,000. It is going up from BDT 3,000 to BDT 4,000 for other foreign flights. According to sources, NBR may release the official announcement by Sunday of next week. When put into effect, this legislation will raise travelers’ travel costs.
These changes are intended to help the NBR collect an extra BDT 300 crore.
In order to generate an extra BDT 4,000 crore in income over the last six months of the fiscal year, tobacco goods’ prices and additional levies are also being increased.
Additionally, the 15% normal VAT rate will be reinstated for 43 categories of goods and services.
A senior NBR official stated that these actions are being taken in order to satisfy the requirements of the International Monetary Fund (IMF), which call for an extra BDT 12,000 crore in income to be raised for the current fiscal year.
Source: The Business standard
