VAT on edible oil import reduced to 5%

The government has reduced the VAT on edible oil imports from 15 percent to 5 percent to curb the high price and thus giving relief to the consumers.  

According to a circular of the Internal Resources Division under the Finance Ministry issued today, VAT has been reduced on the imports of refined soybean oil, non-refined soybean oil, non-refined palm oil and other including refined palm oil.   

The reduced VAT amount will be applicable till 30 June this year, read the circular signed by IRD Senior Secretary Abu Hena Md Rahmatul Muneem.