The National Board of Revenue (NBR) has withdrawn the import duty on onions. No duty will have to be paid on onion imports until 31 December. Until now, onion imports carried a 5 per cent duty.
The NBR issued a notification to this effect on Thursday, and it took effect from Thursday.
Another notification issued on Thursday said the duty on raw sugar imports has also been reduced. The regulatory duty, currently 30 per cent, has been cut to 20 per cent. The lower regulatory duty will apply at the import stage until 28 February 2022.
Recommended by the Tariff Commission
The Bangladesh Tariff Commission had earlier recommended cutting duties on onions and sugar. The commerce ministry then asked the NBR to reduce duties and taxes on onions, sugar and edible oil.
The commerce ministry held an inter-ministerial meeting on Monday to keep commodity prices at a tolerable level. When onion prices rose in September 2020, the NBR had withdrawn the import duty on onions until 31 March 2021. The 5 per cent onion import duty was reinstated from April.
Source: Desh Rupantor. First published in Bengali on The Agro News.
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