In an effort to make this essential commodity more affordable for consumers, the National Board of Revenue (NBR) has the specific import duty on both raw and refined sugar.
While the specific import duty has been halved, other import taxes, including VAT and regulatory duty on sugar imports, remain unaltered.
Additionally, a 30% regulatory duty, a 15% VAT, and a 2% advance income tax still apply to sugar imports.
Source: businesspostbd.com
Latest Posts in "Bangladesh"
- NBR Halts Manual VAT Audits to Prevent Corruption, Plans Automated System Implementation
- Understanding Tax Refund Limitations: Legal and Erroneous Payment Criteria Under the Tax Code
- Bangladesh Loses Tk 1.88 Trillion to VAT Evasion and Exemptions in FY23, Study Reveals
- Bangladesh Faces VAT Shortfall, Corruption, and Declining Tax-to-GDP Ratio, Urgent Reforms Needed
- NBR and BTRC Dispute Over VAT Audit of Telecom Operators Continues Unresolved
