Radar | May 29,2021
September 3 , 2021
The federal government has designated edible oil, sugar and rice as tax-exempt consumer goods. Imported wheat is also exempt from duties and taxes.
The value-added tax levied on eggs and pasta has also also been lifted.
The exemptions will be in place indefinitely.
This is expected to encourage businesses willing to import the items, while helping the government control the surge in food prices, said officials of the Ministry of Finance during a press briefing held today.
"We may lose revenues because of the exemptions but it would be instrumental to reducing the rising cost of living," said Eyob Tekalign (PhD), state minister for Finance.
Food inflation reached 32pc last month, the highest recorded in a decade.
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