Tridge summary
The National Board of Revenue (NBR) of Bangladesh has exempted import duties on both raw and refined sugar, effectively immediately. The waiver includes a Tk3,000 duty on raw sugar and Tk6,000 on refined sugar per tonne. This move is anticipated to lower the total import cost of raw sugar by Tk6,500 and refined sugar by Tk9,000 per tonne. Furthermore, the NBR has also reduced the regulatory duty on sugar imports from 30% to 25%. This decision aims to help consumers control prices and follows a proposal from the commerce ministry to reduce the record high sugar prices in the country.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The National Board of Revenue (NBR) on Sunday waived the import duty on both raw and refined sugar to allow consumers to control prices. In a notification, the customs authority withdrew Tk3,000 duty on import of raw and Tk6,000 on refined sugar per tonne, with immediate effect. After the reduction, the overall import cost of raw and refined sugar is expected to decline by Tk6,500 and Tk9,000 per tonne respectively, according to an estimate by the NBR. At the same time, the NBR also reduced regulatory duty on import of sugar from 30% per cent to 25%, the notification also read. The reduced import ...
Source: DhakaTribune
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