Home / National / VAT on import of edible oil withdrawn

VAT on import of edible oil withdrawn

Bangladesh government will lift VAT on imports of cooking oil, sugar, and gram in an effort to lower market prices ahead of Ramadan, says Finance Minister AHM Mustafa Kamal.

“We are lifting the VAT on these items so that they remain affordable for mass people,” the finance minister told.

“The government is providing the support that it can. VAT will not be imposed on cooking oil, sugar, and gram.”

The Ministry of Commerce sent a letter to the National Board of Revenue asking for the 15 percent VAT on cooking oil to be lifted in the face of demands from traders.

An NBR official said that ‘work is ongoing’ to lift VAT on necessities in response to that letter.