Duty structure to be reduced gradually: NBR Chairman

Duty structure to be reduced gradually: NBR Chairman

National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan on Tuesday said the country overall duty structure is likely to be reduced in the coming days.
“We are moving towards the LDC graduation. We cannot impose duty at will anymore, so we will reduce this duty gradually,” he said while speaking at a pre-budget meeting at the conference room of the Revenue Building.
The NBR chairman said the NBR is putting emphasis on income tax and Value Added Tax (VAT) as key areas for revenue collection.
“All customs issues should be targeted for trade facilitation, not for revenue collection,” he said.
He said any duty reduction or imposition is done in the national interest.