Import duty on onion increased, rice reduced Import Duty
Collected Rice and Onion

Import duty on onion increased, rice reduced

Bangladesh Live News | @banglalivenews | 08 Jan 2021, 11:25 am

Dhaka, January 8: The National Board of Revenue (NBR) has reduced rice import duty to meet the deficit. On the other hand, the import duty on onions has been increased to ensure a fair price for the farmers. The company issued two separate notifications on Thursday (January 7).

According to the notification, import duty on all types of rice has been reduced from 25 percent to 10 percent. On the other hand, 5 percent regulatory duty has been imposed on onion imports. As a result, 10 percent duty has to be paid on onions.

At the same time, the concession (tax exemption) facility for import of coronavirus protection materials has been extended till June 30 next year.

Earlier, the Commerce Ministry had written to the National Board of Revenue (NBR) to impose new tariffs on onion imports. As onion production season is approaching in the country and stock situation is satisfactory, it is recommended to impose tariff.