FICCI expresses concerns over lack of stakeholder consultation prior to policy revision
The Foreign Investors’ Chambers of Commerce & Industry (FICCI) Bangladesh, the apex chamber representing Foreign Direct Investment (FDI) in the country, expresses deep concern over the recent decision to increase VAT/Supplementary Duty (SD) on a range of products without prior consultation with key stakeholders.
FICCI represents 90% of Bangladesh’s total FDI, covering high-revenue sectors such as tobacco, telecom, energy, and financial institutions, which collectively contribute approximately 30% of the total internal revenue. The recent decision to hike VAT, SD, and other taxes is likely to impact consumers while significantly raising the cost of doing business in the country. This measure threatens the financial stability and operational capacity of businesses that generate crucia...