The supplementary duty on local cosmetics will be increased to 10% from 5%Budget FY21: Local cosmetics to become costly
The cost of locally manufactured cosmetics will be increased as more supplementary duty will be imposed on it in the proposed National Budget of Fiscal Year 2020-21.
A total of Tk568,000 crore budget for fiscal year 2020-21 was placed by Finance Minister AHM Mustafa Kamal in the parliament on Thursday.
The finance minister, while speaking at the budget session, proposed to increase supplementary duty of local cosmetics to 10% which is 5% now.
“The imposition of supplementary duty at the rate of 10% has been proposed on ceramic sink, Basin, etc. at the manufacturing stage.