Finance Minister AMA Muhith has said the uniform VAT rate will remain unchanged at 15% in the next fiscal year.

“The VAT rate will remain at 15%, and it will not be reduced,” he told reporters in his office on Saturday.

He added:  “The rate has been in effect since the beginning. We could have reduced it by 1-2%. But, what is point in doing so?”

Increasing national budget from Tk95,000 crore to Tk400,000 crore is one the vital achievements  of the government, he said, adding that budget for the next fiscal year would be around Tk500,000 crore.

The minister, however, declined to specify the amount, reports the Bangla Tribune.

“Human resources sector has been given importance in the budget. And, allocation for this sector will increase accordingly,” Muhith added.