The government has decided to increase tax by 10% on items such as shaving items, makeup, toiletries, disinfectant, and other depilatory goods in the proposed national budget for FY23.
Currently, a tax rate of 10% is imposed on such items which include fragrances, makeup items, shaving items, toiletries, and disinfectant items.
As per the proposed budget, a 20% tax would be imposed on the items in the coming days.
Finance Minister AHM Mustafa Kamal has placed the Tk6,78,064 crore national budget for FY23 prioritizing the safeguarding of marginal people from inflation fuelled by the Russia-Ukraine conflict.
This is the fourth budget of the third consecutive term of the government led by Prime Minister Sheikh Hasina and also the overall 51st budget of the country.
The proposed budget is Tk74,383 crore higher than the original budget size of the FY2021-22 fiscal year, which was Tk6,03,681 crore.
