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NBR is reducing taxes on edible oil, dates and sugar

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The National Board of Revenue-NBR is reducing the import duty on soybean oil, dates and sugar to keep prices under control during Ramadan. Chairman of NBR Abu Hena Mo Rahmatul Munim said that this decision was taken in view of the letter from the Ministry of Commerce.

The NBR chairman gave this information in a press conference at the National Revenue Building on Thursday afternoon. At this time, he said, after receiving the letter from the Ministry of Commerce, the duty reduction work has started.

However, he did not reveal any product list. Earlier, on Monday, the Ministry of Commerce demanded a waiver of import duty on edible oil, sugar and dates to ensure adequate market supply and stable prices during the month of Ramadan.

Abu Hena Rahmatul Muneem said, NBR will properly observe International Customs Day tomorrow.

According to NBR, the shortfall in revenue collection in the 6 months till December in the current financial year is Tk 23 thousand crores. In the budget, from July to December, NBR is given a target of about 1 lakh 89 thousand crores. 1 lakh 66 thousand crores have been collected.

Revenue collection has increased by about 14 percent compared to the same period of last financial year. NBR’s revenue growth in 3 sectors is higher. And the lowest import duty.

NBR Chairman said that work is going on to increase revenue collection as per the conditions of IMF.


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