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No VAT on private universities, PM orders

No VAT on private universities, PM orders

Prime Minister Sheikh Hasina on Tuesday (Apr 10) said no Value Added Tax (VAT) will be imposed on private universities. Planning Minister A H M Mustafa Kamal briefed the media about the PM’s directives after a meeting of the Executive Committee of the National Economic Council (ECNEC), local media reports a said.

Quoting the PM, the Planning Minister, briefed reporters at the planning commission in the afternoon. He said, there is no need to slap VAT on the private universities now.

On Monday (Apr 9), Finance Minister A M A Muhith told reporters after a pre-budget discussion with newspapers and private television channels that VAT will be imposed on private universities in the next budget (FY19). Muhith said VAT on private universities would be collected from the university owners, not from the students.

In 2015, students of private universities waged an all-out movement and crippled Dhaka city when the authorities took decision to impose VAT on private universities. It was later repealed under mass pressure.