NBR reduces import tariff on rice, sugar and dates to contain price hike

Value Added Tax (VAT) on edible oil has been removed by the National Board of Revenue (NBR), which has also reduced regulatory charges and tariffs on dates, sugar, and rice.

It was decided that during the holy month of Ramadan, which is scheduled to begin in the middle of March, there would be an increase in supply while maintaining control over the pricing of needs.

The NBR published a notification on Wednesday announcing the complete elimination of customs duties and a 25% reduction in the regulatory fee on rice imports.

In a separate notification, the NBR eliminated the VAT on edible oil. Taka 1,000 instead of Taka 1,500 was the new special tariff on raw sugar imports.

Furthermore, the NBR lowered the import duty from 25% to 15% on dates, which are mostly consumed during the month of Ramadan. The revised rates are currently in force.

/MHK/