Import duty on rice reduced to 25%
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Import duty on rice reduced to 25%

Import duty on rice reduced to 25%


The import tariff on rice has beencslashed to 25 % from 62.5%  an official announcement said on Thursday.

The change would be made effective from October 30 next.

Read: None will be allowed to make rice market unstable: Food Minister

The National Board of Revenue (NBR) issued a gazette notification in this regard.

According to the  notification, rice importers have to pay 5% Advanced Tax (AT) and 5% Advanced Income Tax (AIT) in addition to a 15% customs duty.

Read: Bangladesh to import 550,000 mt of rice soon to boost stock

However,  it will only be applicable to the imports of boiled and unboiled Atap rice.

Previously, the revenue authority had also reduced the tariffs to 25% last year in a bid to control the price hike by encouraging imports, but that facility was only valid  till  April this year.

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