Import duty on sugar withdrawn

PBC NEWS DESK: The National Board Revenue (NBR) has withdrawn customs duty and reduced regulatory duty on the import of all kinds of sugar to lower the prices.

Duties of Tk 3,000 and Tk 6,000 have been withdrawn on import of each tonne of raw and refined sugar respectively.

Besides, the regulatory duty has been lowered to 25 per cent from the existing 30 per cent to facilitate import and contain the soaring prices of sugar.

The NBR has decided to withdraw the duty on import of all kinds of sugar following a proposal made by the Ministry of Commerce.

The decision will remain effective until May 30 next.To this end, the National Board of Revenue issued a statutory regulatory order on Sunday.

Under the SRO, the NBR withdrew the applicable customs duty against the import of cane sugar or beet sugar and reduced the regulatory duty to 25 per cent from 30 per cent.