Bangladesh cuts import tariffs on selected consumer items

Dhaka: Bangladesh on Thursday withdrew customs tariff and slashed regulatory duty on rice, sugar and dates, and lifted value-added tax (VAT) on edible oil with immediate effect.

In a notification, country's National Board of Revenue (NBR) withdrew a 25 per cent customs duty for rice import, and lifted VAT on edible oil. It reduced the specific duty for import of raw sugar to 1,000 taka per tonne from 1,500 taka earlier, Xinhua news agency reported.

Also, the revenue board slashed import duty for dates to 15 per cent from 25 per cent in an effort to keep prices affordable during the Muslim holy fasting month of Ramadan, which is to begin here on or around March 11.