Withdraw VAT on CDSO, CPO
Bangladeshi Curries need edible oils to cook. Oil is also essential for human health. A year before in international market crude de-gum soybean oil (CDSO) was available at USD 850 to 950 and crude palm oil (CPO) was available at USD750 to 850 per ton. Refiners in Bangladesh used to import those and refine in their refineries for getting refined soyabean oil and palm oil. These two oils are popular edible cooking oils in the country. These two oils cover 90% of edible oils consumed in Bangladesh as the country does not produce enough edible oils to cater the need. Government has been imposing customs duty and value added tax (VAT) on CDSO and CPO to collect revenue income. CDSO in international market now is USD1600+ and CPO is USD1550+ per ton.
As government has not yet reduced rate of customs duty and rate of VAT, importers have to pay higher amount of customs duty and higher amount of VAT owing to higher crude prices. Higher price of crude and higher amount of customs duty and higher amount of value added tax have increased the price of soyabean and palm oils in terms of Taka in the market. Most of the consumers are facing difficulty to buy edible oils at such higher prices. To give some relief government can withdraw VAT on CDSO & CPO up to 30 June 2022. Thereafter reviewing international market prices, taxes could be re-fixed.
I like to request government to withdraw VAT on CDSO and CPO up to June 2022 to provide a little relief to consumers. It will not effect revenue income of government much as amount of customs duty will be higher owing to increased price of CDSO and CPO in international market.
Md Ashraf Hossa
Middle Bashabo, Dhaka
Implement Law to ban polythene
Polythene is one of the main causes of environmental pollution. It is a product that does not mix with soil even after 500 years. Today, Polythene is poisoning rivers, canals, seas and oceans day after day.
Bangladesh was able to take a timely step to curb this rampant polythene epidemic. Bangladesh is the first country in the world to ban the production, marketing and use of polythene by enacting a law on March 1, 2002.
The government passed another law in 2010 to use jute instead of polythene. The law was such as ‘Compulsory Use of Jute Wrapping in Products Act-2010’. The law also banned polythene to use in 11 products. But due to lack of enforcement, use of poly products is still rampant in the market.
The use of eco-friendly jute should be increased and people should be encouraged not to use polythene. Considering the overall situation, the Polythene Prohibition Act must be implemented in no time.
Jakariya Al Hosain
Student, Nilphamari Government College
