A total of Tk 51 million value added tax (VAT) has been collected till Monday from Dhaka International Trade Fair (DITF). VAT officials estimate total VAT collection at the end of the fair would be around Tk 70 million as trade fair has three more days.
Officials said, “People's presence usually reaches the peak on Friday and Saturday. But the fair was stopped for commence countdown to the 100-birth anniversary of Bangabandhu Sheikh Mujibur Rahman and the city corporation election on January 10 (Friday), January 31 (Friday) and February 1 (Saturday) respectively.
“As a result, the duration of the fair has been extended up to February 6, which would surely increase the total VAT collection,” they hoped. Sources said National Board of Revenue (NBR) has beefed up surveillance deploying three teams at the fair venue. “These teams inspired traders to follow the rules and fined Tk 10,000 to each of 50 organisations to for evading tax,” they said.
“We’ve inspired the businessmen to comply with the VAT law and received a good response from them. We hope the amount will increase further in the next edition,” they added. Deputy Commissioner of Excise and VAT Commissionerate of Dhaka West Rezaul Haque said this year, VAT collection is good, though the number of participants is lower than that of previous year.
This year, the trade fair had a total of 490 stalls and pavilions. Around 55 companies and organisations from 20 countries participated in it, he said adding that in 2019, stalls and pavilions was 650. He said, “This year, we have targeted to collect Tk 8 crore VAT from the fair.”
The fair will remain open daily from January 1 to February 6 from 10 am to 10 pm. Tickets for the fair will also be available online this time. This time the ticket for the fair has been fixed at 40 Taka for adult and Tk 20 for children. A total of 490 stalls and pavilions including 68 premium pavilions, 57 premium mini pavilions and 365 stalls with restaurants will be set up in the fair venue.
A total of 20 foreign countries, including India, Pakistan, China, South Korea, Iran, Thailand, the United States, Singapore, Bhutan, Nepal, Vietnam, the Maldives, Japan, Italy, Denmark Russia, Germany, the United Kingdom, Australia and Hong Kong applied for participating in the fair this year.
The major items that are put on parade at the fair venue this time include machinery, carpets, cosmetics and beauty products, electronics, jute, leather and sports goods, sanitary ware, toys, ceramics, fabrics, processed foods, furniture and handicrafts.
Apart from the business stalls, amusement park for children, mother and child center, separate booths and security service rooms for male and female, fire service station, blood donation center, complaint center of the Consumer Rights Protection, power grid sub-station, generation station and space for car parking have been arranged inside the fair compound.