Advance tax lifted for crude soybean, palmolein import

The National Board of Revenue (NBR) yesterday exempted import of crude soybean and palm oil of a 4 per cent advance tax (AT) to contain prices during Ramadan, the month of fasting for Muslims. Though the move will alleviate the need for working capital and interest rate burden for refiners, it is unlikely to help reduce prices of edible oil which is at a high level now, said