VAT (value added tax) on the import of sugar, chickpea, and edible oil has been withdrawn, said finance minister AHM Mustafa Kamal on Thursday.
He announced this while briefing newspersons after two consecutive meetings of the Cabinet Committee on Economic Affairs and Cabinet Committee on Public Purchase.
He said VAT on the import of these commodities has been withdrawn as their consumption is higher during the Holy Ramadan. “Considering the Holy Ramadan, we took the decision to withdraw the VAT for a temporary period,” he said.
“The decision has been taken so that prices of the essentials can be kept at a tolerable level,” he added.
He, however, did not give any detail of the product lists from which the VAT has been withdrawn.
