Bangladesh Sarak Paribahan Malik Samity (BSPMS), an association of public transport owners, has urged the National Board of Revenue to reduce import duty on tyres to 10 per cent from the existing 15 per cent, and withdraw the supplementary duty on radial imports in FY24.
It also proposed to fix the tariff at $2 on import of per kg radial and non-radial tyres.
The association leaders raised the demands while addressing a pre-budget discussion organised by the revenue board at its Agargaon office in the capital on Tuesday.
They said, “There is now a $3.50 tariff on import of per kg radial tires and $3 on per kg non-radial tyres, in addition to 15 per cent import duty, 10 per cent supplementary duty, 15 per cent VAT, 5 per cent advance tax and 5 per cent advance trade VAT (ATV).”
The sector is totally import-dependent and the transport owners import radial tyres for buses, trucks and lorries, they said.
The transport owners proposed to fix a specific HS code against engines of imported motor vehicles, set the import duty at 3 per cent, and withdraw the import duty on spare parts.
At the discussion, Bangladesh Motor Parts & Tyre Tube Merchants Association leaders proposed to fix tariff at $1 from the existing $2 on import of wheel rims, wheel nut-bolts and genuine wheel nut-bolts used in car tyre rims.
They also urged to withdraw 20 per cent supplementary duty on such imports.
Bangladesh Inland Container Depots Association leaders said the corporate tax should be at 10 per cent. They proposed to reduce source tax to 2 per cent, and exempt import duties on capital equipment and spare parts for container handling.
Bangladesh Automobiles Assemblers & Manufacturers Association leaders said that the NBR has to fix minimum duty on electric vehicles imports, provide bonded warehouse facility to the local automobile manufacturers, and reduce duty on import of commercial vehicles by 10 per cent to 5 per cent.
Aviation Operators Association of Bangladesh (AOAB) proposed to withdraw the existing 5 per cent advance tax on aircraft and its parts and helicopter imports.
It also urged to waive all sorts of customs, import duties and advance taxes on domestic flights.
Currently, there is excise duty and 15 per cent VAT on all charges including airport development fee, security fee, and embarkation fee for domestic flights. AOAB urged to reduce the embarkation fee from Tk 725 to Tk 500 in the upcoming budget.
Bangladesh Computer Samity leaders said currently, there is 26.2 per cent duty on the industrial robot imports. They demanded duty-free facility for this sector in a bid to establish robotic industry.
The Intellectual Property Association of Bangladesh demanded the board to take reasonable steps in fixing all import duties, VAT and taxes at rational level.
Bangladesh Manufacturers Association of Transformer & Switchgear urged to fix 5 per cent import duty on importing 0.50-3mm MS steel, pre-painted steel below 1mm, relays, aluminum bars, insulation materials and copper conductors.
It has also proposed to reduce import duty to 15 per cent on busbar.
Bangladesh Toy Merchants Manufacturers and Importers Association demanded to withdraw import duty on toy imports. It said that the higher duty is barrier to do business.
If the government reduces duty, the sector will expand like garment industry, said the toy association leaders.
