Thursday, June 20, 2019, 08:15:30 PM

Duty on rice import hiked by 25%

Senior Correspondent | banglanews24.com
Update: 2019-05-22 9:37:35 PM
Duty on rice import hiked by 25%
File photo

DHAKA: National Board of Revenue (NBR) has increased the regulatory duty on importation of rice by 25 percent from 3 percent, with keeping the existing 25 percent import duty effective.   

NBR took the move upon government decision vowing to discourage traders to import rice amid the outcry over low paddy price.

NBR issued a circular, signed by its Senior Information Officer Syed A Mumen, on Wednesday (May 22).  

From May 22, 55% tax has to be given to the government if anyone imports rice. The 55% tax includes customs duty 25%, regulatory duty 25% and AIT duty 5%, said the circular. 

NBR Chairman Md Mosharraf Hossain Bhuiyan said the duty on rice import has been increased upon instruction from Prime Minister Sheikh Hasina vowing to save the farmers from counting financial loss.

BDST: 2137 HRS, MAY 22, 2019
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