Budget FY22: Prices of products likely to increase

Finance Minister AHM Mustafa Kamal has proposed to increases tax on some products. As a result, the prices of those items will increase.

In the proposed budget, a 20% tax would be imposed on imported cheese and yogurt. So, the prices of foreign cheese and yogurt would increase.

Cigarettes: According to the minister’s proposals, the minimum price of 10 sticks of low-tier cigarettes will be Tk40 (a Tk1 increase from the previous fiscal year), with a supplementary duty of 57%.

Imported mobile phones: The price of imported mobile phones will rise as the government proposed a 5% value-added tax (VAT) on its purchases.

Imported laptops, clothes, coffee, fireboxes, water purifiers, aluminum foil, crude tar, printing plates, fan motors, lighters, two and four stroke engines, computer printers and tonners, imported paper cup and others.

Besides, the minister proposed for sharp increase in import taxes on cars in the proposed national budget for 2022-23 as part of the government’s measures to contain import spending.