The National Board of Revenue (NBR) has imposed a one percent tax at source on imports of edible oil, including soybean, sunflower, palm, and corn oil, with a revenue target of nearly Tk 6 billion.

A statutory regulatory order issued Monday said the measure applies to both crude and refined oils. Previously, edible oil was exempt from source tax at the import stage as it was treated as an essential item.

NBR officials said the change is intended to curb tax evasion and collect revenue in advance rather than at the sales or turnover stage. They stressed that prices should not rise, since the levy can later be adjusted against companies’ tax obligations.

Importers, however, fear the new charge will increase costs. The government expects Tk 5-6 billion in additional revenue from the move.