Prices of high-tier cigarettes will go up

It has been proposed to increase the prices of high-tier and premium-tier cigarettes in the budget of the next financial year, but the prices of lower- and middle-tier cigarettes have been kept unchanged.

The new price of 10 high-tier sticks has been proposed at Tk102 or more, which was Tk97 in the previous year's budget.

The increased price of 10 premium quality sticks has been fixed at Tk135 or more, which was Tk128 in the previous year.

A 65% supplementary duty has been fixed with this price, similar to the previous year.

On the other hand, customs duty on import of mushrooms has been increased to 15% from 5%.

There was no supplementary duty on the import of carrots and turnips but a 20% supplementary duty has been imposed in the new budget, along with a VAT of 15%.

The supplementary duty on the import of chewing gum and sugar confectionery has been raised to 45% from 20%.

The price of cellular phone, Pure Sodium Chloride BP/USP Pyrogen Free will go up.

The existing 10% customs duty on Pure Sodium Chloride BP/USP Pyrogen Free has been increased to 25%. Besides, a 3% regulatory duty has been imposed, which was zero in the previous year. Apart from these, a 20% supplementary duty has also been imposed.

The customs duty of denatured salt has been hiked to 25% from the existing 10%, with a 3% regulatory duty which was zero in the previous year.

There was no regulatory duty on sodium sulphate import but this time a 3% regulatory duty has been imposed.

A 20% of supplementary duty has been introduced on the import of meat and edible offal of bovine animals, sheep or goats. A 15% VAT has also been imposed.

The following product prices will also go up: paraffin, mineral oil, rice huller and wheat crusher, motor exceeding 750 W, coach screws, wood screws, nuts and coated rods, recycled lube and lubricant oil, soap, organic surface-active products and preparations, stoppers, charcoal and wood-based coil, paper cup, plate and bowl, LED lamps and LED bulbs.

PRODUCTS PRICES TO BE DECREASE

The prices of sanitary napkin will go down and Covid-19 test kit, PPE and Covid-19 vaccine will get VAT exemption.

The duty on import of stainless steel per tonnes has been reduced to Tk500 from Tk1,500.

Prices of imported poultry, dairy and fish feed will come down. Taxes and duties on De-oiled rice bran, rapeseed extraction, rice bran, wheat bran, sunflower meal, palm kernel, animal oil and veterinary medicine have been reduced.

Taxes on feed ingredients, used in the manufacture of medical devices, and anti-cancer machine have been reduced.

Taxes and duties have been reduced on Active Pharmaceutical Ingredient used in medicine production.

The four-stroke engine in CKD, microbus and hybrid vehicles prices will also go down.