VAT Collection

                             

    Date: 10.October.2015

NOTICE

Dear Parents,

The school authority strongly feels the necessity of informing the parents regarding the recent changes in the VAT collection.

The Government of Republic of Bangladesh had started collecting 4.5 % VAT from English Medium Schools from 2007 and the earlier SRO No: 173 has been replaced by the Honorable the High Court Division of Supreme Court of Bangladesh with the new SRO dated on 5^th June 2014. This had replaced the previous 4.5% VAT with 7.5%. Therefore, the school had collected 7.5% VAT for the Academic year of 2014-2015.

On 17^th September 2015, the Honorable High Court of Division of Supreme Court of Bangladesh has issued an order in response to Writ Petition (No: 10127 of 2015). With this order the educational institutions are asked to suspend the existing VAT amount (7.5%) until the matter is fully clarified. In the meantime, the school has attempted to understand the nature of the order by seeking an answer from the respective authorities.

Taking the aforesaid facts into consideration, until this ambiguity has been clarified, the school will collect the VAT in order to deposit the collected amount to the VAT office in case the Government decrees that the schools are required  to deposit the VAT.

If the VAT is fully nullified in favor of parents of educational institutions preceding the 6-month suspension, the school will adjust the collected amount in the last installment of the tuition fees.

The school is committed to act in accordance with the government’s specification.

Please bear with us while we try to alleviate the situation.

Thank you for your understanding and cooperation.

For further enquiry, you can e-mail us at: gulshansection@ithsbd.net

                  The School Authority