Monday 19 August 2019 ,
Latest News
Midday meal in all govt primary schools by 2023 | DNCC to launch ‘combing operation’ to tackle dengue | Victims of slum fire to be rehabilitated: Quader | Fakhrul’s bid to take bad smell of BNP’s politics beyond border: Hasan | BNP against providing land to India for Agartala airport |
23 May, 2019 00:00 00 AM / LAST MODIFIED: 23 May, 2019 01:19:23 AM

Print

Rice import duty, tax increased to 55pc

Move aims at discouraging import of staple food
Staff Reporter, Dhaka
Rice import duty, tax increased to 55pc

The government yesterday increased regulatory duty on rice import to 25 per cent from the existing 3 per cent in its move to raise the prices of paddy in local markets by discouraging import of the main staple food in the country.

The National Board of Revenue (NBR), in a circular which will come into immediate effect, also said that importers have to pay five percent advance income tax on rice import. With the latest rise in regulatory duty and advance income tax, now rice importers have to count a total of 55 per cent tax and duty.

The government move comes in the wake of countrywide protests by farmers against low paddy prices, which, they claim, ranges between Tk 400 and Tk 450 a maund, almost half their production costs.

The abnormally low paddy prices also prompted some farmers to leave their produces in the fields and some to burn their paddy at some places.

NBR Chairman Md Mosharraf Hossain Bhuiyan said 3.3 lakh metric tonnes of rice were imported in 10 months of 2018-19 fiscal year.

As a result, he said, the country's farmers are being forced to sell their rice at a price lower than their production cost. The decision to raise the import tax and duty has been taken considering the huge losses being incurred by farmers, he said.

Comments

Poll
Today's Question »
State minister for power Nasrul Hamid yesterday said everyone to have access to electricity by June. Do you think the feat achievable by the timeframe?
 Yes
 No
 No Comment
Yes 47.3%
No 48.7%
No Comment 4.1%
Most Viewed
E-Paper

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting