Dhaka, June 10 -- VAT on local corn oil at the production and trading levels is likely to be exempted as the Trading Corporation of Bangladesh (TCB) wants to include the item in the list of its essential items.

The move is aimed at selling the item at lower prices among the low-income TCB beneficiaries, officials say.

The state-run trading agency recently requested the commerce ministry to take steps in this regard.

When contacted, a ministry official said, "We have received the proposal sent by the TCB. The ministry is working on it. The VAT issue is a matter of the National Board of Revenue (NBR)."

Currently, there is a 15 per cent VAT on the production, and a 5 per cent on the trading, of local corn oil.

No VAT is applicable to co...