BIA demanded to withdrawal of VAT on health insurance

Sunbd Desk || Published: 2021-05-06 09:51:34 || Updated: 2021-05-06 09:51:34

The Bangladesh Insurance Association (BIA), an association of insurance company owners, has demanded the withdrawal of value added tax or VAT imposed on health insurance. At the same time, the organization has demanded government subsidy on health insurance as part of ensuring quality healthcare for all.

BIA President Sheikh Kabir Hossain made the demand at a press conference on a virtual platform ahead of the national budget for the upcoming 2021-22 fiscal.

The BIA president said that considering the socio-economic condition of Bangladesh, it has not yet been possible for the government to ensure quality healthcare for all. In this case, if someone tries to reduce health risks by insuring health, it is not reasonable to discourage them by imposing taxes.

In this regard, he said, 15 percent VAT on health insurance should be withdrawn immediately. In this case, I do not understand why and on what grounds the tax was imposed. On the contrary, government subsidy should be given here.

Sunbd/NJ

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