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MONDAY, JUNE 05, 2023
Increased duty on import of sugar & milk powder

Economy

TBS Desk
13 June, 2019, 06:19 pm
Last modified: 13 June, 2019, 06:19 pm

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Increased duty on import of sugar & milk powder

During the budget speech of 2019-20 FY, Finance Minister AHM Mustafa Kamal proposed to increase Customs Duty (CD) on Milk Powder and Specific Duty (SD) on Sugar.

TBS Desk
13 June, 2019, 06:19 pm
Increased duty on import of sugar & milk powder
Increased duty on import of sugar & milk powder

“To protect the local dairy industry, I propose to increase 5% customs duty to 10% on milk powder import,” Finance Minister Kamal said. 

He also proposed an increase from 20% to 30% on the specific duty on both raw and refined sugar. The existing duty on raw sugar is BDT 2000 per Metric Ton (MT). While the proposed duty is BDT 3000/MT.

For refined sugar, the proposed duty also increased to BDT 6000/MT from existing BDT 4500/MT. 

“Regulatory duty will be 30% instead of 20% for both refined and raw sugar import,” he added. 

Sugar / Poweder Milk / Budget 2019-20

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