E-commerce delivery charges may be reduced in the budget
Finance Minister AHM Mustafa Kamal will present the budget for the fiscal year 2023-24 in the National Parliament on June 1. The possible size of the budget is going to be BDT 7 lakh 61 thousand 785 crores.
In the proposed budget, there may be proposals to impose duties and taxes or exemptions on various types of products. In this, e-commerce companies may be exempted from VAT at the rate of 5% on sales. As a result, delivery charges will be reduced.
Currently, e-commerce companies pay 5 percent Value Added Tax (VAT) on their sales, 15 percent VAT on delivery charges, and 5 percent VAT on house rent.
Meanwhile, on Tuesday evening, the Parliament Secretariat Commission approved the budget of Tk. 337 crores 6o lakh for the financial year 2023-2024 in the National Parliament. The budget was approved in the meeting of the Parliament Secretariat Commission chaired by the Speaker of the National Parliament Dr. Shirin Sharmin Chowdhury.
In a circular published by the Parliament Secretariat, in the meeting, 308 crore 18 lakh 66 thousand taka was approved in the revised budget of the Bangladesh National Parliament for the fiscal year 2022-2023 in the management and development sector. A proposed budget of Tk. 337 crore 60 lakh was approved for the management and development sector in the financial year 2023-24.
Apart from this, the budget projection of Tk. 361 crore 23 lakh for the financial year 2024-25 and Tk. 386 crore 52 lakh for the financial year 2025-26 was approved.
