Bangladesh, Sept. 16 -- The National Board of Revenue (NBR) has further cut the tax on imports of equipment and parts used for solar power generation to 1.0 per cent to facilitate the expansion of renewable energy.

Advertisement Under a notification issued Wednesday, importers will be exempted from customs duty above 1.0 per cent, regulatory duty, supplementary duty, value-added tax (VAT), advance tax and advance income tax on specified solar power-related equipment and parts.

The facility will remain effective for 180 days from the date of issuance of the notification, reports UNB.

The NBR said the latest measure was taken against the backdrop of the global energy crisis and electricity shortages, with a view to expanding solar power...