DHAKA, May 24, 2022 (BSS) - The National Board of Revenue (NBR) has imposed 
regulatory of 20 percent instead of the existing 0 and 3 percent at import 
stage on some 135 products under the HS code including fruits, flower, 
furniture and cosmetics to reduce import of those products and thus saving 
foreign currency.

The NBR issued a Statutory Regulatory Order (SRO) yesterday in this regard 
which also came into immediate effect.

The NBR officials said such decision has been taken in order to discourage 
import of such products alongside rebuilding economy following the COVID-19 
pandemic and also to reduce dependency on the luxurious items.

The revenue board in a press release today said that Bangladesh is rich 
enough in cultivation of fruits and flowers and such decision would help the 
farmers in getting just price of their produced fruits and flowers. The 
marginal farmers will also be benefitted and thus the import dependency will 
be reduced.

They said that currently the locally manufactured furniture and cosmetics 
items are standard enough and also capable of meeting the local demand. 
Due to the imposition of regulatory duty on furniture and cosmetics items, 
the local industry would be flourished through competition with the foreign 
products.

Besides, it will also play a role in saving foreign currency and generating 
more revenues through discouraging import of such items.
The products on which regulatory duty has been imposed are furniture and 
furniture raw materials, vehicles and vehicle engines, machineries, iron and 
iron products, fly ash as a raw material of cement industry, fruits, rice, 
cosmetics items and consumer goods.

The highest 20 percent regulatory duty has been imposed on wooden and iron 
furniture and furniture raw materials, pick up and double cabin pick up vans 
while 15 percent regulatory duty has been imposed on vehicle engines. 
Besides, regulatory duty of 3 to 10 percent has been imposed on tyres and 
rims. 

Besides, as raw material to construction items, regulatory duty of 3 to 10 
percent has been imposed on iron rod and billets while regulatory duty of 5 
percent has been imposed on import of fly ash.

Apart from these, some 20 percent regulatory duty has been imposed on import 
of perfumes, hair and skin care items, shaving items while some 15 percent 
regulatory duty has been imposed on oxygen, nitrogen, argon and primary 
Medicare items alongside 3 to 10 percent import duty on fiber optics and 
various types of wires.

Besides, the NBR also slapped 20 percent regulatory duty on import of foreign 
mangoes, apples, watermelons and nuts.