Economic Desk: The National Board of Revenue (NBR) has exempted VAT on supply of goods and services for various programs run in Bangladesh funded by the global organization The Global Fund. This information was revealed in a notification recently signed by Barrister Badruzzaman Munshi, Second Secretary (VAT Laws and Rules) of the NBR.
The Global Fund is the world’s largest funding organization for AIDS, TB and malaria prevention, treatment and care programs. As of October 2024, the Global Fund has approved more than $78 billion in funding for its programs in about 130 countries.
The NBR notification said that since the Framework Agreement has been signed between the Government of Bangladesh and the international development cooperation organization The Global Fund. In addition, if the Value Added Tax (VAT) exemption is granted for the supply of goods or services for the programs run by the organization and its funded Prime Partners, free medical services for AIDS, tuberculosis and malaria can be provided among the neglected and extremely poor people of the marginalized areas of the country; Since, under sub-section (2) of section 126 of the Value Added Tax and Supplementary Duty Act, 2012, there is a provision for exemption from Value Added Tax in the case of supply or receipt of services by imposing limits and conditions for the implementation of any international or bilateral agreement by the National Board of Revenue by a special order.
Therefore, the National Board of Revenue has exempted the supply of goods or services for the programs run in Bangladesh by The Global Fund and its funded programs from all applicable Value Added Tax.
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