Dhaka: In a major relief to the customers, the National Board of Revenue (NBR) has withdrawn import duty on both raw and refined sugar.
This will help in maintaining sugar prices in the domestic market under control.
NBR has issued a notification to withdraw a 3,000 taka (about $28) specific duty on the import of raw sugar and a 6000 taka duty on refined sugar per tonne with immediate effect.
The NBR has also reduced the regulatory duty on the import of sugar to 25% from 30%.
As per the proposal from the commerce ministry to lower the sugar prices from the current record level of up to 120 takas per kg, the reduction on the import duty will be effective till May 30, 2023.
Following the duty waiver the import cost of raw and refined sugar would decline by 6,500 takas and 9,000 takas per tonne respectively, as per the estimate by the NBR.
