Government has extended period of duty concession rice import more three months. The facility was scheduled to end on December 31.
As a result, traders will get the benefits of exemption from import duty and regulatory duty at the rate of five percent on boiled rice and atap rice till March 31, 2023.
At the end of last June, the government allowed the first round of rice importation. Then another notification was issued in August. But due to lack of interest in import among the traders, the government took the initiative to reduce the duty.
Currently there is 5 percent advance income tax, 5 percent advance tax and 5 percent regulatory duty on rice imports.
The National Board of Revenue (NBR) issued a notification in this regard on Wednesday.