Innovation and changes in VAT system of Bangladesh (original) (raw)

Value Added Tax (VAT) is one of the largest sources of collecting revenue from the people for the fund of their budget. In 1991, it has been developed to overcome the existing economic and social problems as a part of reformation of the tax based on consumption only. The aim of this paper is to find out the existing practices of Value Added Tax (VAT) in Bangladesh and find out the change area of it to overcome the existing problematic practices to make a good figure to be a great supportive sector of government. Several objectives, theoretical concept of VAT, the current practices of VAT, limitations of existing practices, changes necessary for overcoming this problematic practices are discussed. The main task is to find out that what difference does it make comparing the other developing countries? It also shows which Chang Management Model has been followed to bring the changes.

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