Regulatory Alerts2008-08-19
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Clarification on Price Fixation of Chargeable VAT for Bank Services at Reduced Rates
The instruction clarifies how chargeable value-added tax is priced when the received value falls below fixed service charges for bank services. All branches of scheduled banks in Bangladesh must comply with this pricing clarification immediately upon issuance, as referenced by a National Board of Revenue file dated July 28, 2008.
website: www.bangladesh-bank.org www.bangladeshbank.org.bd
Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka August 19, 2008 BRPD Circular Letter No.- 13 Date ------------------------ Bhadra 04, 1415 Chief Executives All Scheduled Banks in Bangladesh Dear Sir, Clarification on price fixation of chargeable VAT in case of value received at reduced rate than the fixed service charges against service provided by banks File No. 8(8) Mushak Ni: O Ba:/99(Angsha-1)/95 dated July 28, 2008 of National Board of Revenue is printed overleaf to-to for your information and necessary action. This instruction shall come into force with immediate effect and you are requested to ensure its compliance by all of your branches. Please acknowledge receipt. Yours sincerely, sd/- (Md Jahangir Alam) General Manager Phone: 7117825
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