Waive onion taxes, suggests BTTC

Bangladesh Trade and Tariff Commission (BTTC) on Monday suggested waiver of the existing 5.0-percent import duty and 5.0-percent advance income tax until December 31, 2023 to help stabilise the soaring prices of onions in the domestic market.
Besides, the Commission also suggested searching for alternative sources like Myanmar, Turkey and Egypt for onion import as India imposed a 40-percent export duty on the key spice on August 19.
The BTTC's suggestions came after the retail prices of imported onion jumped to Tk 80-90 per kg on Monday from the previous rates of Tk 60-70 while the local variety of onion crossed Tk100 a kg following the imposition of export duty by India.