The government has proposed to impose VAT on meditation services again after three years of exemption.
“I propose to withdraw the existing VAT exemption on ‘Meditation Services’, said Finance Minister AHM Mustafa Kamal in his budget speech on Thursday.
The finance minister, however, held the decision of VAT exemption on meditation during his budget speech for the current fiscal year (FY22) saying the proposal was placed for the sake of mental health and controlling the mind during the global pandemic.
The 7.0 per cent VAT on meditation was first imposed in FY14 but the then finance minister AMA Muhith withdraw it in FY15 showing the ground of enabling people to recover from mental and physical illness.
The VAT on meditation was again proposed during the budget speech of FY19 but the finance minister held it up for the next two years, amending the proposed finance bill of the same fiscal.
smunima@yahoo.com