On January 11, 2025, Taskeen Ahmed, President of the Dhaka Chamber of Commerce and Industry (DCCI), criticized the interim government's decision to increase VAT and supplementary duty on over 100 products, labeling it as 'suicidal.' He highlighted that the burden of this VAT increase would ultimately fall on consumers, which could negatively impact both national and international investments [ba907256].
The government's plan includes raising VAT on mobile top-ups by 3%, bringing it to a total of 42%, while businesses with annual sales exceeding Tk50 lakh will face a 15% VAT [ba907256]. Taskeen urged the government to consider reducing its expenses by 20% to save Tk50,000 crore instead of imposing additional taxes on the public. He also condemned a recent 150% hike in gas prices, noting that gas prices have surged nearly 400% over the past three years, which poses a significant threat to businesses [ba907256].
In his statements, Taskeen emphasized the necessity of separating economic policies from political agendas, calling for a more stable and supportive environment for businesses to thrive in Bangladesh [ba907256]. As the government moves forward with these tax increases, the DCCI's concerns reflect a broader apprehension about the potential repercussions on the economy and the welfare of ordinary citizens.