According to the letter, out of 40,000 jewelery shops in the country, 8,000 have VAT registration. Of these registered businesses, only 1,500 pay VAT regularly.
The letter said that if minimum VAT is implemented, many more establishments will come under the ambit of VAT. To bring a large number of shops under the tax net, BAJUS demanded fixing the VAT at Tk 2,000 per bhori.
Speaking on the issue, BAJUS president Enamul Haq Khan told Prothom Alo, “At present, not even 10 per cent of VAT is being collected, but we want 100 per cent collection. Therefore, if a fixed minimum VAT is imposed, it will not put pressure on consumers and will also increase revenue collection.”