5% tax for restaurant sector
“I propose 5 percent VAT on both AC and Non-AC restaurants (except restaurants in hotels with 3 or more star, and restaurants, where alcohol is served) instead of 10 percent VAT on AC restaurant and 5 percent VAT on non-AC restaurant,” Finance Minister AHM Mustafa Kamal said during his budget speech
The government has proposed 5% tax for the restaurant sector in the national budget for FY23.
"I propose 5 percent VAT on both AC and Non-AC restaurants (except restaurants in hotels with 3 or more star, and restaurants, where alcohol is served) instead of 10 percent VAT on AC restaurant and 5 percent VAT on non-AC restaurant," Finance Minister AHM Mustafa Kamal said during his budget speech.
The finance minister on Thursday (9 June) placed the Tk6,78,064 crore national budget for FY23 at Jatiya Sangsad according top priority to safeguarding marginal people from inflation fuelled by the Russia-Ukraine conflict.
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This is the fourth budget of the third consecutive term of the government led by Prime Minister Sheikh Hasina and also the overall 51st budget of the country.
The proposed budget is Tk74,383 crore higher than the original budget size of the FY2021-22 fiscal year, which was Tk6,03,681 crore.
