Govt reduces VAT on oil, import duty on sugar, rice, dates

The National Board of Revenue (NBR) has announced duty-tax exemptions on essential commodities including rice, edible oil, sugar, and dates ahead of Ramadan to stabilise prices during the holy month.

This decision, effective immediately, follows a directive from Prime Minister Sheikh Hasina to ensure an uninterrupted supply of these items during Ramadan.

The NBR, through separate Gazette notifications signed by Chairman Abu Hena Md Rahmatul Muneem, has withdrawn import duty on dates and reduced regulatory duties on rice, oil, and sugar.

This move aims to alleviate the financial burden on citizens during Ramadan, a time of increased consumption and religious significance.

The exemptions include the withdrawal of a 10% import duty on dates, a 20% regulatory duty on rice, and 5% duties on both edible oil and sugar.