[Bangladesh] AIC Submits Comments on Bangladesh Value Added Taxes and Supplementary Duties Act 2012, June 2019

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The Asia Internet Coalition (AIC) has submitted comments on Bangladesh Value Added Taxes and Supplementary Duties Act 2012. Economic growth in Bangladesh has averaged more than 6% in the last decade and it is now progressing out of the low-income category. One of the pillars of this economic growth has been the robust policy- making of the Govt. of Bangladesh, which has been coupled with a spurt in consumer spending and business investment. With increased investment in – and greater accessibility of – information and communications technology (ICT) based services, traditional business models and processes are evolving as they develop new ways of leveraging ICT and reaching new markets.

Digitalization has become central to the business models of firms operating across economies in South Asia including Bangladesh. The digitalization occurring in all industries across the economy has contributed to the growth of the Bangladeshi economy by connecting small business, consumers, buyers, suppliers and all key actors in the global value chain. Digital multinational enterprises (MNEs) have helped achieve an increase in both sides of the supply-demand equilibrium.