Dhaka, April 16 -- The National Board of Revenue (NBR) has withdrawn the 5 percent advance tax on imports of unrefined soyabean and palm oil, just a day after cooking oil prices were hiked by Tk 14 per litre following traders' demands.

The tax exemption was announced through a special order issued on Tuesday and made public on Wednesday.

The directive, signed by NBR's First Secretary (VAT Policy) Md Moshiur Rahman, clarified that the exemption applies specifically to the import of crude soyabean and palm oil, which had previously been subjected to a 5 percent advance tax.

On Tuesday, the interim government set the new price of bottled soyabean oil at Tk 189 per litre while loose soyabean oil was priced at Tk 169 per litre.

The price o...