VAT on biscuits, cakes reduced to 7.5%

The value-added tax (VAT) on biscuits and cakes has been reduced by half as it has been lowered from 15% to 7.5% following demands from processed food manufacturers, according to an order.

The order will be applicable to biscuits made by machines, on hand-made biscuits priced over Taka 200 per kg and on cakes priced over Taka 300 per kg.