The government has waived the value added tax (VAT) on soybean and palm oil in the country.
Finance Ministry issued a gazette notification in this regard on Monday.
Until now, these two products are subject to 15 per cent VAT at production level and 5 per cent VAT at trading level.
The government waived the tax on buyers and traders by reducing the prices of the two products.
Earlier, Finance Minister AHM Mustafa Kamal had announced VAT waiver.
According to the Finance Ministry, soybean oil will be waived from 15 per cent VAT at production level and 5 per cent at consumer level.