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Onion import tax withdrawn

Published : Friday, 15 October, 2021 at 12:00 AM  Count : 636

Responding to the Commerce Ministry request to cut import tax on onion amid price hike of the essential commodity, the government on Thursday withdrawn prevailing 5 per cent duty on the import of onion to increase its supply in the markets.
Along with the withdrawal, the regulatory duty on sugar import was also reduced to 20pc from 30pc.  
The National Board of Revenue (NBR) under the Internal Resources Division (IRD) of the Finance Ministry on Thursday issued two separate gazettes in this regard.
The decisions came
when the prices of the daily essentials keep soaring in the local markets.
Onion is now selling at Tk70-80 per kg, up from Tk40 a month ago in the local markets.
Earlier on October 11, the Commerce Ministry sent a letter to the National Board of Revenue (NBR) to withdraw the duty on import of onion following a decision of its an inter-ministerial meeting.

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