Bangladesh, Jan. 21 -- The National Board of Revenue (NBR) is going to cut duty-free benefit on import of 21 types of power plant equipments, categorising them 'locally available and consumable products.'
The decision has been taken in a bid to check duty evasion through abusing the benefit, offered for attracting power sector investment.
The NBR's Customs Wing has decided to scrap two existing Statutory Regulatory Orders (SROs) to frame a comprehensive order with a negative list for the duty benefit.
Officials said the NBR has sent a summary of the new SRO to the finance minister for his approval.
The products that might be included in the negative list are - steel sheet and steel pipe below certain grade, steel rod, cement, boulder st...