Used microbus may no longer be imported
Sunday, 17 June 2007
FE Report
Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) Saturday feared that used microbus may no longer be imported in the country following proposals for imposing excessive supplementary duty on its import.
The BARVIDA said this at a press conference held at a city hotel Saturday.
The Finance Adviser Mirza AB Azizul Islam in his budget speech on June 7 proposed raising the supplementary duty on import of old micro buses from 20 per cent to 350 per cent.
The BARVIDA leaders said that the rate of duty on the import of 2799 cc microbuses will go up to 133 per cent from the existing 52.53 per cent.
The BARVIDA said the duty for the import of each microbus would rise from Tk 400,000 to Tk 900,000 depending on the engine and seating capacities.
The BARVIDA leader said steps like withdrawal of the proposed supplementary duty on the microbus, imposition of 10 per cent flat rate yearly depreciation, introduction of pre-shipment inspection (PSI) and allowing old car imports beyond existing four years will help the middle class to own their individual vehicles.
BARVIDA president Abdul Hoque read out the written speech at the press conference while its secretary general Md Abdul Hamid Sharif, vice president Md Shah Selim Tipu, joint secretary general Helal Uddin Chowdhury, Treasurer ABM Anisuzzaman Pinu, former VARVIDA president Md Anowar Hossain and others were present.
Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) Saturday feared that used microbus may no longer be imported in the country following proposals for imposing excessive supplementary duty on its import.
The BARVIDA said this at a press conference held at a city hotel Saturday.
The Finance Adviser Mirza AB Azizul Islam in his budget speech on June 7 proposed raising the supplementary duty on import of old micro buses from 20 per cent to 350 per cent.
The BARVIDA leaders said that the rate of duty on the import of 2799 cc microbuses will go up to 133 per cent from the existing 52.53 per cent.
The BARVIDA said the duty for the import of each microbus would rise from Tk 400,000 to Tk 900,000 depending on the engine and seating capacities.
The BARVIDA leader said steps like withdrawal of the proposed supplementary duty on the microbus, imposition of 10 per cent flat rate yearly depreciation, introduction of pre-shipment inspection (PSI) and allowing old car imports beyond existing four years will help the middle class to own their individual vehicles.
BARVIDA president Abdul Hoque read out the written speech at the press conference while its secretary general Md Abdul Hamid Sharif, vice president Md Shah Selim Tipu, joint secretary general Helal Uddin Chowdhury, Treasurer ABM Anisuzzaman Pinu, former VARVIDA president Md Anowar Hossain and others were present.