To make dates more affordable for the general public during the holy month of Ramadan, the government has announced a significant reduction in duties on date imports.

The National Board of Revenue (NBR) issued two separate notifications on Thursday which will reduce the customs duty, advance income tax, and completely withdraw the existing advance tax on dates.

To keep the market price of essential food items within the purchasing power of the general public, the government has reduced and, in some cases, completely withdrawn the duties and taxes on import-dependent food products. Dates, which are an import-dependent fruit, are an essential item for Iftar for people of all classes, according to an NBR press release.

According to the new directive, the existing customs duty on date imports has been reduced from 25% to 15%. Furthermore, the advance income tax rate has been slashed from 10% to 3%, and the existing 5% advance tax has been completely withdrawn. In total, this has reduced the tax burden on date imports from 63.60% to 38.70%.

The NBR stated that as a result of these changes, the import cost per kilogramme of dates may decrease by approximately Tk 60 to Tk 100, depending on quality. With the reduction in customs duties and taxes at the import stage, the board anticipates an increase in date imports, which will raise the supply of dates in the market and keep their prices within the purchasing power of the general public.

This move will ensure that dates remain affordable for people during Ramadan, added NBR.