NBR reduces duty on sugar imports by 15%

The National Board of Revenue (NBR) reduced the regulatory duty on sugar imports by 15 percent to stabilize the local market prices.

The duty has been cut from 30 percent to 15 percent, effective immediately.

NBR public relations officer Syed A Mumen revealed the information Wednesday (October 9).

As a result of the 15 percent reduction in regulatory duty, the customs duty on raw sugar now stands at Tk 11.18 per kg, while refined sugar is taxed at Tk 14.26 per kg at the import level.

The NBR expressed hope that lowering the customs duty will stabilize the sugar price at local market.