The government of Bangladesh issued two notifications on March 16 to adjust import duties on fresh fruits, aligning with public interest during Ramadan. The National Board of Revenue announced a reduction in the supplementary duty on fruit imports from 30% to 25% and a complete exemption of the 5% advance tax.
In a separate announcement on March 10, the advance income tax on fruit imports was reduced from 10% to 5%, effectively decreasing the overall tax burden by 15%. The government aims to maintain commodity prices within reach during Ramadan.
The interim government has also implemented reductions in import duties, regulatory duties, VAT, advance income tax, and advance tax on essential goods like edible oil, sugar, potatoes, eggs, onions, rice, dates, and pesticides. These measures are intended to stabilize prices during the holy month.
Additionally, the government has removed VAT on the metro rail service, which is noted for being fast, safe, and environmentally friendly. VAT exemptions are also applied to local supply and imports of e-book services to facilitate student access to books.
In efforts to alleviate financial burdens on Hajj pilgrims, the government has withdrawn excise duties on Hajj tickets and introduced various other tax exemptions for public welfare.
Source: NewAge