National Board of Revenue (NBR) has waived advance income tax (AIT) on import of common wheat to reduce the import cost and handling of containers carrying such food grains.
NBR's Income Tax Wing issued a notice in this regard on December 9 and sent it to customs’ offices on yesterday, official confirmed.The duty has been waived after the authority concerned detected misdeclaration in customs assessment by importers. The NBR's Customs Intelligence and Investigation Directorate along with Customs House, Chattogram (CHC) revealed that traders imported common wheat and declared the item as durum wheat to avoid AIT.
There were inconsistencies also in taxation on the import of the item. According to NBR, AIT at the rate of 5 percent was applicable on the import of common wheat that is usually consumed in Bangladesh.
AIT on import of durum wheat, an upgraded type of the grain - used for high quality food items like pasta, is exempted from payment of tax.