The government has reduced import duties on fresh fruits to keep prices affordable during the holy month of Ramadan.
According to two notifications issued on March 16, the supplementary duty at the import stage has been lowered from 30% to 25%, while the 5% advance tax has been completely exempted, according to a press release from the National Board of Revenue (NBR) on Tuesday, reports UNB.
Additionally, a separate notification on March 10 reduced the advance income tax on fruit imports from 10% to 5%, bringing the total reduction in customs duties to 15%.
The measures were taken in the larger public interest to ensure price stability during Ramadan, it said.
The NBR claimed that, in the larger public interest, the interim government had provided significant tax exemptions on import duty, regulatory duty, VAT, advance income tax, and advance tax on various essential commodities, including edible oil, sugar, potatoes, eggs, onions, rice, dates, and pesticides, over the past few months.
“Due to various timely steps taken by the government, including tax exemptions, it has been possible to keep the prices of goods at a tolerable level during the holy month of Ramadan this year,” said the release.
The government had completely exempted the existing VAT on the metro rail service, a widely used public transport, in the larger public interest, said the release.
To ensure easy access to books, promote a modern, technology-based education system, and enhance education quality, VAT had also been exempted on e-book services at both the local supply and import levels.
Additionally, the government had fully withdrawn the excise duty on Hajj tickets to reduce expenses for pilgrims and has introduced various other tax exemptions in the public interest, the NBR stated, the release also said.
Bd-pratidin English/ Afia
