The National Board of Revenue (NBR) has taken significant steps to boost the supply and manage prices of essential commodities during the Holy month of Ramadan, scheduled to commence in mid-March.
To facilitate this, customs tariffs and regulatory duties on rice, sugar, and dates have been adjusted, while the value-added tax (VAT) on edible oil has been eliminated.
A recent notification from the NBR, published on Thursday, outlines the removal of the 25 percent customs duty on rice imports, with the regulatory duty concurrently reduced from 25 percent to 5 percent.
In a parallel move, the NBR has exempted VAT on edible oil, aiming to enhance the availability and affordability of this essential during the upcoming Ramadan period.
Furthermore, the NBR has revised the specific duty for the import of raw sugar, reducing it to Tk 1,000 per tonne from the previous rate of Tk 1,500.
In recognition of the significance of dates, particularly consumed during the fasting month of Ramadan, the NBR has also decreased the import duty on dates to 15 percent from the earlier 25 percent.
