Regulatory duty will be 30% instead of 20% for both refined and raw sugar imports
The budget for the upcoming 2019-20 fiscal year may see a spike in the price of imported sugars
The finance minister has proposed increasing the specific duty and regulatory duty for both refined and raw sugar imports.
As such, consumers are likely to feel the burden of the hike in taxes for sugar, an essential daily commodity.
According to the budget proposal, the government will raise and set the specific duty at Tk3000 per metric ton, from Tk2000/MT on the import of raw sugar.
For refined sugar , the specific duty will be increased from Tk4,500 per metric ton to Tk6,000 per metric ton.
Regulatory duty will be 30% instead of 20% for both refined and raw sugar imports.