Bangladesh cuts fruit import tax

For fresh fruit and vegetable marketing and distribution in Asia
Luisa Cheshire

BY LUISA CHESHIRE

Bangladesh cuts fruit import tax

Officials will lower the import duty on fresh fruit to make them more accessible to local consumers

Bangladesh cuts fruit import tax

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The Bangladesh government is cutting import tax on fresh fruits by 10 per cent following pleas by importers to keep prices within reach of local consumers, reports thefinancialexpress-bd.com.

Currently, there is a 30 per cent supplementary duty, a 25 per cent customs duty, a 15 per cent value added tax, a 5 per cent regulatory duty, a 4 per cent advance trade VAT, and a 5 per cent advance income tax on fresh fruit imports.

"We have taken the decision to reduce import tax on fresh fruits following instructions of the Finance Minister," a senior National Board of Revenue (NBR) official told the website.

Last March the government imposed a 5 per cent regulatory duty on the import of fresh fruits along with 72 other items in its effort to rein in imports of luxury goods to reduce pressure on the country's balance of payments, according to the report.

The official said fresh fruits should not be considered as luxury products.


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