The revenue board has waived value-added tax (VAT) on all types of expenditure of the Bangabandhu 9th Bangladesh Games to facilitate the organiser, the Bangladesh Olympic Association (BOA).
The domestic sporting event started on April 01 and is scheduled to continue until April 10.
However, uncertainty looms large over the continuation of the games as the government on Saturday imposed lockdown from Monday to check Covid-19 casualties.
In a gazette notification on March 31, the National Board of Revenue (NBR) announced to withdraw the VAT.
However, the NBR tagged three conditions to avail the VAT-free benefit by the association.
VAT exemption will only be valid for spending by the BOA at the time of organising the games.
Officials concerned, not below the rank of deputy secretary general of the association, will have to submit a declaration form to their respective commissioners of customs, excise and VAT offices to avail VAT exemptions on expenses for daily food and accommodation of players and other relevant officials.
The gazette, signed by NBR (VAT policy) first secretary Kazi Farid Uddin, has given a prescribed format of the declaration form.
All declarations, including food, accommodation and other expenses, have to be submitted within 10 days of the expenditure, according to the order.
The declaration will include name and address of the particular organisation, its VAT registration number and telephone number.
The BOA hosts all national-level sporting competitions comprising games like Bangladesh Games and Bangladesh Youth Games.
It also imparts training to players and sends them to participate in international competitions.
More than 5,000 athletes and 1,500 technical persons are expected to attend the event from 64 districts across the country.
The BOA is a non-profit organisation and a sport development entity which is recognised by the International Olympic Committee.
