VAT on cooking oil import now 5%

This reduced 5% VAT will be applicable till June 30

In order to restrain the soaring price, the government has reduced VAT on cooking oil imports to 5% from the existing 15%.

VAT has been reduced on the imports of both refined and unrefined soybean and palm oil, according to a circular by the Internal Resource Department of the Ministry of Finance issued on Wednesday.

This reduced 5% VAT will be applicable till June 30, the circular reads. 



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