https://www.taxtmi.com/news?id=45297 The government reduced the basic customs duty on crude palm oil, crude soybean oil and crude sunflower oil from twenty percent to ten percent, lowering the effective import duty on these crude oils to sixteen point five percent while keeping basic and effective duties on refined oils at thirty-two point five percent and thirty-five point seven five percent respectively. Industry bodies expect the higher duty differential between crude and refined oils to discourage refined imports, boost demand for crude oils, and support domestic refining capacity, thereby helping to reduce retail cooking oil prices and protect local processors. en-us Sat, 31 May 2025 01:01:03 +0530 Sat, 31 May 2025 01:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=45297 The government reduced the basic customs duty on crude palm oil, crude soybean oil and crude sunflower oil from twenty percent to ten percent, lowering the effective import duty on these crude oils to sixteen point five percent while keeping basic and effective duties on refined oils at thirty-two point five percent and thirty-five point seven five percent respectively. Industry bodies expect the higher duty differential between crude and refined oils to discourage refined imports, boost demand for crude oils, and support domestic refining capacity, thereby helping to reduce retail cooking oil prices and protect local processors. News - Sat, 31 May 2025 01:01:03 +0530 https://www.taxtmi.com/news?id=45297