NBR to give tax benefits for car manufacturing: chairman

Staff Correspondent | Published: 00:00, Apr 19,2019 | Updated: 23:08, Apr 18,2019

 
 

National Board of Revenue is framing a policy to give tax benefits and other support for car manufacturing in the country, said its chairman Md Mosharraf Hossain Bhuiyan on Thursday.
At a pre-budget discussion with automobile and transport sectors at NBR headquarters, he said that investors interested in setting up car manufacturing factory in the country would get required support including tax incentives.
He hoped that businesses would come up with investment to manufacture motor cars utilising the policy support to be provided by NBR.
Earlier, NBR provided incentives to motorcycle industry and now the sector has grown well over the last few years, he said.
At the meeting, Bangladesh Automobiles Assemblers and Manufacturers Association demanded exemption from payment of VAT on procurement of accessories from local market.
BAAMA secretary Abu Musabbir Ahmed said that sales of motorcycle rose to 4.5 lakh units in 2018 from 3 lakh units in 2016.
Aviation Operators Association Bangladesh secretary general Mofizur Rahman demanded withdrawal of 20 per cent supplementary duty on helicopter transportation.
He also sought exemption of VAT and tax on aviation fuel for the local airlines.
The association also demanded exemption of VAT on aeronautical and non-aeronautical charges, and on import of aircraft engine accessories.
Bangladesh Commodity Transportation Agency Owners Association demanded imposition of trip and load capacity-based fixed-VAT withdrawing existing 7.5 per cent VAT on goods transportation.
Bangladesh Motor Parts Tyre Tube Merchants’ Association demanded reduction of customs duty on import of wheel rim bolt, excel bolt and crown bolt to 15 per cent from current 25 per cent.

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