The 7.5 percent VAT on the tuition fees of private universities was based on the hypothesis that rich and well-off parents send their wards to private universities.

Greece misses deadline for a €1.6bn (£1.1bn) payment to the International Monetary Fund (IMF), hours after eurozone ministers refused to extend its bailout.

The government proposes to withdraw value added tax (VAT) on a number of products and services to encourage local industries grow further.

Finance Minister AMA Muhith today floats the proposal to impose VAT at the rate of 4 percent on the online trading sector.

Awami League has criticised the imposition of Value Added Tax (VAT) saying it will not generate more revenue but aggravate people's sufferings by pushing prices higher.

Dhaka Mohanagari Mistannya byaboshayee Kallyan Samity on Monday urged the Government to exempt the sweetmeat business from the VAT system