Customers will no longer need to pay Value Added Tax (VAT) on purchases at superstores.
According to a release from the National Board of Revenue (NBR), the retail price of products will now be the final amount payable. The VAT department of the NBR issued a notification regarding this on Thursday.
The decision was made after several meetings between NBR authorities and superstore owners. Previously, VAT rates ranged from 1.5% to 5%, with a 7.5% rate applied in last year’s budget.
Read the original reporting at UNB
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