NBR Implements Stricter Rules for Ambulance Imports

The National Board of Revenue (NBR) has exempted the advance tax (AT) on the import of raw materials for cancer drug manufacturing, aiming to reduce production costs and drug prices. Previously, a 5% AT was imposed, but it has now been reduced to 2% or eliminated altogether.

The National Board of Revenue (NBR) has reduced the source tax on the import of raw materials used in cancer drug production from 5% to 2%, aiming to lower production costs and make oncology medicines more affordable. This move is expected to benefit both pharmaceutical manufacturers and patients by reducing drug prices.

The National Board of Revenue (NBR) has removed VAT on various edible oils, including mustard, rapeseed, canola, and rice bran oil, along with other essential commodities, to ease market pressure. VAT exemptions will apply at the production stage for rapeseed, colza seed, and canola oil until June 30, 2025, while mustard oil gets an indefinite exemption.

The National Board of Revenue (NBR) has lifted VAT on locally produced edible oils, including mustard, sunflower, rapeseed, canola, and rice bran oils, to stabilize prices amid a 6.84% rise in loose soybean oil prices (Tk 185–Tk 190 per litre) in Dhaka over the last month.

Bangladesh has one of the lowest tax-to-GDP ratios globally, even lower than Nepal and war-torn countries like Afghanistan and Pakistan. In 2023, Bangladesh’s tax-to-GDP ratio was 8.21%, ranking as the fourth lowest worldwide, with only Sudan, Yemen, and Haiti having lower figures.

The National Board of Revenue (NBR) has launched the Customs Strategic Plan (CSP) 2024-2028, focusing on revenue management, trade facilitation, border security, and organisational development. The plan aims for full implementation of the Bangladesh Single Window (BSW) by 2027, integrating customs with port, transport, and tax authorities.