VAT & SD Act 2012
Section 2 Clause 21 - Withholding Entity
(as updated till Finance Ordinance 2025)
1[ “withholding entity” means-
(a) any government entity;
(b) any non-government organization approved by the NGO Affairs Bureau or the Department of Social Services;
(c) any bank, insurance company or a similar financial institution;
(d) any educational institution of secondary or higher than that level; 2[***]
(e) any limited company 3[; or]
4[ (f) any person or institution with an annual turnover of Taka ten crore or above; ]
1 Clause (21) was substituted by section 53(4) of the Finance Act, 2019 (Act No. 10 of 2019) with effect from 01 July 2019.
2 The word “or” was omitted by section 4(a)(i) of the Finance Act, 2024 (Act No. 5 of 2024) with effect from 1 July 2024.
3 The symbol “.” was substituted for the symbol “;” and “or” was inserted by section 4(a)(b) of the Finance Act, 2024 (Act No. 5 of 2024) with effect from 1 July 2024.
4 Sub-section (f) was inserted by section 4(a)(ii) of the Finance Act, 2024 (Act No. 5 of 2024), with effect from 01 July, 2024.
Disclaimer: This is the authentic English text of The Value Added Tax and Supplementary Duty Act 2012, as published under SRO No. 440-Law/2025/326-Mushak dated 05 November 2025. In the event of any inconsistency or conflict between the content on this website and the official Government publications or gazette notifications relating to laws, rules, regulations or SROs, the official Government publications and notifications shall prevail.