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TOAB wants continuation of existing VAT exemption

Published : Wednesday, 12 June, 2024 at 12:00 AM  Count : 263
Business Correspondent
Tour Operators Association of Bangladesh (TOAB) President and FBBCI Travel, Tour and Hospitality Standing Committee Chairman Md. Rafeuzzaman urged on the government to retain existing VAT benefits of tour operators for the sake of developing tourism industry.

Speaking at a press conference at the Dhaka Reporters Unity on Tuesday he said the package price and travel cost will increase significantly if the existing value added tax benefits are withdrawn as proposed in the national budget for the 2024-25 announced on June 6 last.

He said tour operators collect tourism elements from various sectors and create packages for convenient and comfortable travel for tourists. VAT is given while renting a hotel room, purchasing a transport ticket, paying a meal bill at a restaurant, purchasing tickets for various tourist attractions and amusement parks. It even applies to other tourism services.

Tour operators provide services to tourists by combining all the mentioned tourism elements. Now, if VAT is applied to the tourism components which are added to the combined package, the package price and travel cost will increase significantly, he added.

As a result, the entire tourism industry, especially inbound and domestic tourism, will be severely affected. As the tourism industry is a vast and multi-sector one, the withdrawal of existing VAT facility may hinder the development of a thriving tourism industry in Bangladesh.

It is to be mentioned here that the tourism industry of Bangladesh was encouraged by the father of the nation, Bangabandhu Sheikh Mujibur Rahman. Following his footstep his multitalented daughter Prime Minister Sheikh Hasina has been creating vast opportunities in tourism sector by her skillful management, Rafeuzzaman said. "If VAT is imposed in tour operation services, the tourism sector will be greatly hindered."

He said the tourism industry can both earn and save hard-earned foreign exchange through tour operators. Immediately after the budget announcement, a delegation led by the TOAB President met with FBCCI President Mahbubul Alam to discuss the withdrawal of proposed vat on tour operator services. Md. Rafeuzzaman drew the attention of journalists to this matter so that this demand of TOAB would attract the attention of the authorities concerned.

Former CEO of Bangladesh Tourism Board (Additional Secretary) Jabed Ahmed, TOAB Vice President Md. Anwar Hossain, TOAB IPP and governing body member of Bangladesh Toursim Board Shiblul Azam Koreshi, TOAB Director Director (Media & Public-Relation) Md. Younus, among others, spoke at the Press Conference. TOAB directors, advisors, honorary members, secretary and journalists from print and electronic media were present at the press conference.



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