Dhaka, Nov 14 (V7N) — In a bid to ease date prices for the upcoming Ramadan season, the government is considering significant customs and tax reductions on date imports. The Bangladesh Trade and Tariff Commission recently submitted a proposal to the Ministry of Commerce recommending a reduction in customs duty on dates from 25 percent to 15 percent and the advance income tax from 10 percent to 3 percent by March 31. The proposal also suggests exempting the 5 percent advance tax on dates.

Additionally, Bangladesh Bank has approved a 90-day buyer's credit facility for importers, allowing delayed payments for date imports to ease financial pressures as demand surges during Ramadan.

Bangladesh has an annual demand of around 100,000 tons of dates, with a notable spike to approximately 40,000 tons in Ramadan, according to the Fruit Traders Association. These measures are intended to stabilize date prices and ensure affordability for consumers during the holy month.

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