The Bangladesh Reconditioned Vehicle Importers and Dealers Association on Thursday demanded an end to ‘discriminatory’ valuation method in calculating customs duty on import of reconditioned vehicles and sought introduction of a rational method to save the sector. The BARVIDA also demanded that the National Board of Revenue reduce
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High duty takes toll on importers of used cars
Importers of used cars are going through tough times due to a high import duty and a cut in car loans by banks, businesspeople said. Imports of used cars fell by more than 46 percent to 6,700 units during the January-June period this year, compared to the same period last year, customs data
821pc duty sends reconditioned car market crashing
Sales slump by 30pc A crippling 821 percent duty – highest in the world – imposed by the government on reconditioned vehicles has reduced sale by 30 per cent in recent months. The reconditioned cars business is in the doldrums because of staggering import duties. Taxes have also hit the sale of brand new
Port city loses glory in car business
Sales of reconditioned vehicles have fallen in the port city in recent years due to a price hike. The trend is also likely to continue as the government, in this year’s financial budget, has only allowed the import of vehicles up to three years old and the prices of cars in the Japanese market have ... Read more