The Pulse Today
BREAKING
Sajib Pledges Aid for 50,000 Flood-Affected People in SonargaonMP Azharul Islam Mannan Distributes Relief Funds to Needy Families in SonargaonParliament Proposes Anti-Gambling Bill with Maximum 7-Year Prison PenaltyOpenAI Unveils 'Schedule' Feature to Boost Task Management in AI ChatbotPrime Minister Tareq Rahman Arrives in Dalian, China for Economic ForumEurope Confronts Intense Heatwave; Conditions Predicted to DeteriorateGold Prices Rise Again in Bangladesh Amid Global Market IncreaseSpaceX's Nasdaq Debut Values Company at Over $2 Trillion, Surpassing AmazonStudy Reveals AI Data Centers Contribute to Local Temperature IncreasesNarayanganj BNP Youth Wing Holds Rally to Welcome New Central CommitteeBangladesh Puja Udjapan Front Dissolves Committees, Forms New Four-Member PanelBangladesh Authorities Seize Indian Cosmetics and Medicines Worth Over Tk 30 Lakh in SylhetUGC Chairman Emphasizes Ethical Values, Tolerance, and Justice in Higher EducationBangladesh Government Sets Ambitious 6-7% GDP Growth Target from TourismHealth Minister Sardar Md. Sakhawat Husain Conducts Surprise Inspection at Gaibandha HospitalBangladesh's Forex Reserves Reach Record $36.47 BillionDhaka Police Arrest 79 in Anti-Crime Operations in TejgaonGovernment Announces Recognition and Support for Victims of Democratic Movements: Saleh ShiblyBangladesh Shilpakala Academy Honors July Martyrs with Commemorative CeremonyPrime Minister's Adviser Emphasizes Unity and Government Commitment Post-July UprisingMinister Dulu Highlights Cultural Practices for Building Value-Based YouthMir Helal Uddin Advocates for Honesty and Public Service in New Bangladesh VisionMinister Afroza Khanam Urges Enhanced Safety Measures in Bangladesh's Tourism SectorBangladesh Cricket Coach Expresses Disappointment Over Nahid Rana's Injury AbsenceBangladesh Proposes Myanmar Gas Pipeline to Address Domestic Demand

New Budget Proposal Seeks to Lower Gold Jewelry Costs Through Fixed VAT and Reduced Source Tax

The finance minister has proposed a new initiative in the budget to reduce the cost of gold jewelry.

By Staff Correspondent
Share
New Budget Proposal Seeks to Lower Gold Jewelry Costs Through Fixed VAT and Reduced Source Tax

The finance minister has introduced a new initiative in the budget aimed at reducing the cost of gold jewelry. The proposal includes setting a fixed VAT of Tk 2,500 per bhori of gold, down from the previous rate of over Tk 10,000. Additionally, the source tax on gold jewelry supply may be reduced from 5% to 0.5%. Currently, the price of 22-carat gold jewelry per bhori is Tk 2,18,350.

Key Points of the Proposal

- Fixed VAT of Tk 2,500 per bhori of gold - Potential reduction of source tax from 5% to 0.5% - Current price of 22-carat gold jewelry per bhori is Tk 2,18,350

FAQ

What is the new VAT rate on gold jewelry?
The new VAT rate is fixed at Tk 2,500 per bhori of gold.
How much was the previous VAT on gold jewelry?
The previous VAT was over Tk 10,000 per bhori of gold.

Topics

Comments

More in business

See all →

Latest stories