Cyprus known as Laiki Bank), into a "bad" bank which would be wound down over time and a "good" bank which would be absorbed by the Bank of Cyprus. In return for a €10 billion bailout from the European Commission, the European Central Bank and the International Monetary Fund, often referred to as the "troika", the Cypriot government was required to impose a significant haircut on uninsured deposits, a large proportion of which were held by wealthy Russians who used Cyprus as a tax haven. Insured deposits of €100,000 or less were not affected. According to the 2017 International Monetary Fund
Value Added Tax in Bangladesh Value Added Tax in Bangladesh Value Added Tax (VAT) in Bangladesh is an indirect consumption tax which is ultimately paid by consumers or buyers on their purchases of goods and services. VAT is imposed at each stage of the production-supply chain based on the value added to the product at that stage. The end consumer ultimately pays the VAT. The National Board of Revenue is the apex organization administering the Value Added Tax on imports and domestic transactions. The National Board of Revenue (NBR) was established according to the direction of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman,