VAT will not be reduced : Finance Minister
Finance Minister AMA Muhith has clearly stated that, the VAT imposed on private universities will not be decreased, regardless how much the decision is protested.
“VAT will not be reduced”, Muhith said on Friday at a program in Sylhet’s Bagbari area.
The National Board of Revenue on July 4, imposed a 7.5% VAT on the fees of private universities and medical colleges.
The students have threatened to discontinue their studies if the VAT decision was not revoked.
A rule has been issued on Sunday by the High Court asking why the decision to impose a 7.5% VAT on the tuition fees of private universities, and medical and engineering colleges should not be declared illegal.
The secretaries of finance and education, chairmen of the University Grants Commission and the National Board of Revenue (NBR) have been asked to explain within three weeks.
The bench of Justice Sheikh Hassan Arif and Justice J.N.Deb Choudhury issued the rule after hearing a plea filed by a teacher and two students of Daffodil University.
Muhith said that he does not support the students’ protests. “They can pay 30,000-50,000 BDT for tuition fees, but can’t pay 7.5% VAT?” he added.
On Thursday, during a meeting of UGC, the private university trustee board’s chairman requested the Education Minister to discard the VAT.
Nurul Islam Nahid said that he will discuss the matter with Prime Minister Sheikh Hasina.
Regarding the situation in the country, Muhith said that Bangladesh currently has a peaceful environment, except for a few murder cases.
Muhith on Friday, attended a food distribution program organized to commemorate Bangabandhu’s 40th death anniversary.