Coffee prices will likely increase with the finance minister proposing a 20% supplementary duty on processed and ready-to-consume coffee.
Finance Minister AHM Mustafa Kamal made the announcement while reading out the proposals for the 2022-2023 fiscal year in parliament on Thursday.
He said: “The total tax incidence on raw roasted coffee is 89.32%, but the total tax incidence of processed and ready-to-consume coffee is 58.6%.
“In the interest of revenue protection, I am proposing to impose a 20% supplementary duty on processed and ready-to-consume coffee at the import stage.”
