Reduced tariff for raw sugar to remain till 15 May
The government has decided to extend the benefit of reduced import duty on sugar for another two and a half months, according to a statutory regulatory order (SRO) from the Internal Resource Division of the Finance Ministry.
"The existing 20% tariff benefit on the import of sugar has been extended till 15 May to keep the market stable ahead of the holy month of Ramadan," a source close to the NBR's customs department told The Business Standard.
The reduced tariff facility will be effective from 1 March, as per the order.
Keep updated, follow The Business Standard's Google news channel
Earlier, the regulatory duty on sugar imports was reduced from 30% to 20%, which ended on 28 February.
Now, importers will have to pay Tk3,000 specific tax per metric tonne of sugar with 15% VAT, 20% regulatory duty and 2% advance income tax.
