Bangladesh’s National Board of Revenue has revised the VAT structure on liquefied petroleum gas (LPG), removing the 7.5 % VAT at local production and trading stages and the 2 % advance tax at import. A uniform 7.5 % VAT will now be applied at the import stage, effective 16 February 2026 and set to remain until 30 June 2026. The change is expected to lower the overall VAT burden on consumers by roughly 20 %.
A uniform 7.5 % VAT will be applied at the import stage, effective 16 February 2026.
The new structure takes effect on 16 February 2026 and remains in force until 30 June 2026.
The overall VAT burden on consumers purchasing LPG is expected to decrease by roughly 20 % compared to the previous structure.
The National Board of Revenue issued the notifications.
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The Business Standard · about 13 hours ago
Bangladesh's National Board of Revenue (NBR) has extended the deadline for filing online VAT returns for the January 2026 tax period by one week, until 22 February 2026. The extension was granted due to holidays and temporary disruptions to the e-challan system and VAT server. Taxpayers can now file through the e‑VAT system until the new deadline.
New Age · 1 day ago
The National Board of Revenue (NBR) in Bangladesh has extended the deadline for filing online VAT returns via its e‑VAT system to 22 February 2026. The extension was granted to accommodate government holidays around Shab‑e‑Barat, a national election, and technical disruptions on 15 February. Taxpayers are urged to submit their January 2026 returns within the new period to avoid penalties.
The Business Standard · 12 days ago
The Advisory Council in Bangladesh has approved a waiver of the 7.5% VAT and 2% advance tax on domestic LPG at local production and trading stages, effective from 5 February 2026. The waiver retains only a 7.5% VAT at the import stage, aiming to reduce the overall tax burden on LPG and potentially lower retail prices.
Jiemian · 1 day ago
China's Ministry of Finance announced a phased rollback of VAT export rebates for battery products, cutting the rebate from 9% to 6% from April 2026 to December 2026 and eliminating it entirely from January 2027. Photovoltaic product rebates will also be scrapped from April 2026. The move is expected to squeeze margins for exporters unless they can pass costs to overseas buyers, with industry experts forecasting gradual price increases of 2–3% for power batteries and 2–4% for energy storage batteries.
OFI International · 1 day ago
China has lowered the import VAT on 16 agricultural products, including refined sunflower and rapeseed oils, from 13% to 9% effective 2 February 2026. A new tariff line 1512190010 was created for refined sunflower oil, and the change applies to a range of oils and fats. Products imported from the USA remain subject to retaliatory MFN tariffs.
BusinessToday · 2 days ago
The article explains that under current GST scrutiny, the eligibility of Input Tax Credit (ITC) hinges on a consistent documentation trail rather than just invoices. Chartered accountant Nitin Kaushik outlines the types of records—purchase orders, GST invoices with e‑way bills, GRNs, bank statements, and GSTR filings—that authorities examine. He stresses that due diligence and alignment of all records can protect bona fide buyers from penalties.
