Govt lifts regulatory duty on import of poultry feed raw materials
Officials of the NBR said the withdrawal of this regulatory duty will lower the import cost of these raw materials, subsequently offering an opportunity to decrease the production cost of poultry feed
The National Board of Revenue (NBR) has withdrawn the existing 5% regulatory duty on the import of soybean oil-cake and other solid residues - a raw material of poultry feed.
A statutory regulatory order was issued in this regard on Monday and published on Tuesday (3 October).
Till now, the import of the raw material was subject to a 5% advance tax (AT), a 5% advance income tax (AIT), and a 5% regulatory duty. Now, only AT and AIT are required to be paid.
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NBR officials said that the withdrawal of this regulatory duty will reduce the cost of importing the said raw material and thereby create an opportunity to reduce the cost of producing poultry feed.
Bangladesh Breeders Association requested NBR to reduce or withdraw the import duty on feed raw materials in order to stabilize the prices of poultry chicken and eggs, which have been rising in the country, according to sources.
Mahbubur Rahman, general secretary of the Breeders Association Bangladesh, was called to find out how much impact this duty reduction will have on the market, but there was no response.
