Carbon tax imposed for owning more than one car

According to the proposed FY24 budget, those owning more than one car will have to pay carbon tax from the upcoming fiscal year.

Finance Minister AHM Mustafa Kamal in his budget speech on Thursday said the government has decided to impose carbon tax to discourage the use of private vehicles in order to reduce carbon emissions and prevent environmental pollution.

Owners of multiple passenger vehicles, jeeps, and microbuses will have to pay a minimum tax of Tk 25,000 to a maximum of Tk 3.5 lakh based on the engine capacity.

If the proposed budget is passed, owners of cars of up to 1500cc will have to pay Tk 25,000 in carbon tax. For 1501cc to 2000cc cars, the tax will be Tk 50,000.

In the case of 2001cc to 2500cc cars, the tax will be Tk 75,000 while it will be Tk 2 lakh for 3000cc cars and Tk 3.5 lakh for 3500cc cars.