NBR slashes import tax on fruits

The National Board of Revenue (NBR) has reduced the regulatory duty on fresh fruit imports, including oranges and apples, by 5%, lowering it from 30%. 

Additionally, the advance tax (AT), which was 5% previously, has been exempted. 

These changes were announced in two separate notifications issued on 17 March. 

The exemption from the additional 25% duty also applies to the import of lemons, grapes and pears.

Earlier on 10 March, the revenue authority also reduced the advance income tax (AIT) by 5%.

Traders have welcomed this initiative and said that as a result, the price of dates per kilogram could drop by Tk25. 

A senior official of the National Board of Revenue (NBR), speaking on condition of anonymity, told The Business Standard, "This measure has been taken by the NBR to make imported fruits somewhat more accessible to people." 

In Bangladesh, most imported fruits, including apples and dates, are not produced domestically. While some fruits like oranges are produced, they are far below the required amount. 

However, in an effort to increase revenue, the government has been raising import taxes on these fruits year after year. 

Currently, to import Tk100 worth of fruit, an import tax of Tk136 has to be paid in total. 

As a result, during Ramadan, the prices of imported fruits like apples, oranges, and mandarins have become out of reach for the general public. 

Muhammad Sirajul Islam, president of The Bangladesh Fresh Fruits Importers' Association, told TBS, "We are hopeful that this will result in a reduction of about Tk25 per kilogram in the price of [all] imported fruits."