NBR attaches strings to duty-free cars for MPs

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FE Report
The National Board of Revenue (NBR) Sunday issued an order allowing members of parliament (MPs) to import duty-free cars specifying engine capacity with some conditions to check abuse of the facility.
The NBR order has restricted import of luxury cars of ten brands, including Lexus, Mercedes-Benz, Hummer, Porsche, BMW, Ferrari, Cadillac, Rolls Royce, Jaguar and Corvette.
The order, effective from today, has fixed CC limit for petrol-run car at 1650cc while diesel-run car at 1800cc. For petrol-run Jeep the CC limit is 3000cc and 4000cc for diesel-run and 2000cc for hybrid car.
The NBR has made it mandatory for MPs to mention their individual constituency and the district in the number plate.
The MPs cannot handover or sell the duty-free imported car within five years of import, the order said.
The MPs will have to complete two-year of his tenure to enjoy the tax-benefit. The lawmaker will be allowed to import one duty-free car in his five-year tenure, the order said.
Presently, 2000cc cars are subject to pay 200 per cent duty while 4000cc cars up to 820 per cent duty.
NBR has projected Tk 1.50 billion revenue loss for offering lawmakers exemption of taxes on import of cars.