The recent hike in value-added tax (VAT) and supplementary duty on nearly 100 goods and services reflects the government’s failure to negotiate effectively with the International Monetary Fund (IMF), economists said at a roundtable yesterday.
Debapriya Bhattacharya strongly criticised the interim government for increasing VAT "inconsiderately".
The current high level of inflation has already placed significant financial pressure on the common people, and increasing taxes in this context will create even more strain
The government’s recent move to increase value-added tax (VAT) on 43 goods and services has raised two key questions: will it generate enough revenue to avoid a huge budget deficit and will it further stoke an already high inflation?
The recent hike in value-added tax (VAT) and supplementary duty on nearly 100 goods and services reflects the government’s failure to negotiate effectively with the International Monetary Fund (IMF), economists said at a roundtable yesterday.
Debapriya Bhattacharya strongly criticised the interim government for increasing VAT "inconsiderately".
The current high level of inflation has already placed significant financial pressure on the common people, and increasing taxes in this context will create even more strain
The government’s recent move to increase value-added tax (VAT) on 43 goods and services has raised two key questions: will it generate enough revenue to avoid a huge budget deficit and will it further stoke an already high inflation?
