Photo : Collected
The National Board of Revenue (NBR) has issued a notification reducing import duty on rice, edible oil, sugar and dates ahead of holy month of Ramadan.
NBR Chairman Abu Hena Md Rahmatul Muneem signed four separate orders in this regard on Thursday (8 February).
In the cabinet meeting held at the Prime Minister's office on January 29, Prime Minister Sheikh Hasina ordered reducing the duty on edible oil, sugar, dates and rice on the occasion of Ramadan.
At present, about 63% of tax including duty and VAT has to be paid on the import of rice. The new order has brought down the Total Tax Incidence (TTI) to 15%.
Besides, the VAT on oil import has been reduced from 15% to 10% and the VAT has been withdrawn at the production and retail stage.
On the other hand, duty on date palm imports has been reduced to 43%, which was about 59% before.
The duty on sugar import was $1500 per metric tonne till now, it has been reduced to $1000.
Messenger/Fameema
