Barvida demands level playing field, tariff cut for large microbuses
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Sunday
July 03, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
SUNDAY, JULY 03, 2022
Barvida demands level playing field, tariff cut for large microbuses

Budget

TBS Report
09 June, 2021, 08:55 pm
Last modified: 10 June, 2021, 04:22 pm

Related News

  • WPPF tax will increase the top 10 listed firms’ costs by over Tk200cr
  • Capital market not given due importance in the budget: Stakeholders
  • Separate authorities sought to ensure accountability in public expenditure
  • Criticism as budget ‘contradicts’ with perspective plan
  • Government mulls over digital currency. What spurred the interest?

Barvida demands level playing field, tariff cut for large microbuses

The association of reconditioned car businesses, however, hailed the proposed budget for FY22 saying it would assist economic recovery, growth and support local industries

TBS Report
09 June, 2021, 08:55 pm
Last modified: 10 June, 2021, 04:22 pm
Barvida demands level playing field, tariff cut for large microbuses

Bangladesh Reconditioned Vehicles Importers and Dealers Association (Barvida) has requested the government to allow them import Japanese reconditioned vehicles at up to 45% depreciated value, which was restricted to 35% a few years ago and led reconditioned cars to an uneven competition with brand new ones. 

In a post-budget press conference on Wednesday, the association of reconditioned car businesses also requested the government to fully withdraw the supplementary duty on imports of widely used 10-15 seater microbuses.

The association, however, hailed the proposed budget for the 2021-22 fiscal year saying it would assist economic recovery, growth and support local industries. 

Addressing the press conference, Barvida Secretary General Mohammad Shahidul Islam said, "Barvida sincerely thanks the prime minister and the finance minister for restructuring and reducing the tariff on import of microbuses, hybrid cars and jeep (from 1801CC up to 2500CC)."

The association is happy as the government considered their proposals to make microbuses affordable so that they can replace unsafe local transports like Nosimon and Leguna. 

However, as the finance minister mainly proposed to reduce supplementary duties for smaller microbuses with 7-9 seats and that tariff for widely used large microbuses is still higher, Barvida demanded a complete withdrawal of the supplementary duty – 60% for gasoline-run ones. 

Reconditioned cars, which are catering to around 80% of the local market demand, have turned expensive in recent years as the government lowered the limit to charge depreciation on reconditioned cars' import value to 35% from 45%. 

Barvida President Abdul Haque requested the government to make it 45% again as in many cases reconditioned cars are now costlier than their brand new counterparts. 

"Annual sales of reconditioned cars have nearly halved over the last four years to below 12,000 and affordability is crucial to expand the market," said Haque. 

Citing expert studies he said a much larger market is needed for a vibrant local car industry. 

Barvida also welcomed the proposed 20-year tax holiday for local car plants which may attract investments in the car industry. 

However, the largest and oldest association of Bangladesh's automobile sector reiterated its point regarding ensuring genuine efforts for car manufacturing instead of mere "screw-driving" for tariff benefits. 

Economy / Top News

Budget / Budget 2021-22

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Something's rotten in small-cap scrip rally: Experts
    Something's rotten in small-cap scrip rally: Experts
  • Representational Image. Photo: Courtesy
    Mobile internet users hit hard by VAT hike
  • Photo: Mumit M
    Launch routes suffer over 50% passenger drop

MOST VIEWED

  • MCCI for corporate tax reduction in line with neighbouring nations
    MCCI for corporate tax reduction in line with neighbouring nations
  • Pre-budget talks to begin 6 February
    Pre-budget talks to begin 6 February
  • Lower budget deficit mirrors slower public spending
    Lower budget deficit mirrors slower public spending
  • Ministries asked not to seek additional fund in revised budget 
    Ministries asked not to seek additional fund in revised budget 
  • Budget displays no changes in personal income tax: Speakers
    Budget displays no changes in personal income tax: Speakers
  • Money whitening scope widened
    Money whitening scope widened

Related News

  • WPPF tax will increase the top 10 listed firms’ costs by over Tk200cr
  • Capital market not given due importance in the budget: Stakeholders
  • Separate authorities sought to ensure accountability in public expenditure
  • Criticism as budget ‘contradicts’ with perspective plan
  • Government mulls over digital currency. What spurred the interest?

Features

The eye-catching commuter: Suzuki Gixxer SF 155

The eye-catching commuter: Suzuki Gixxer SF 155

19h | Wheels
Photo: Collected

Sapiens – A Graphic History 

1d | Book Review
Black-naped Monarch male  Photo: Enam Ul Haque

Black-naped Monarch: A sovereign who never abandoned the Indian subcontinent

1d | Panorama
The 136-year-old company on its last legs

The 136-year-old company on its last legs

1d | Features

More Videos from TBS

Bangabandhu Tunnel to change lives of million

Bangabandhu Tunnel to change lives of million

7h | Videos
Sowari Ghat's fresh fish market

Sowari Ghat's fresh fish market

7h | Videos
Ukraine changes war strategy under Russian pressure

Ukraine changes war strategy under Russian pressure

8h | Videos
Rajshahi Metropolitan Police observes 30th founding anniversary

Rajshahi Metropolitan Police observes 30th founding anniversary

10h | Videos

Most Read

1
Padma Bridge from satellite. Photo: Screengrab
Bangladesh

Padma Bridge from satellite 

2
Meet the man behind 'Azke amar mon balo nei'
Splash

Meet the man behind 'Azke amar mon balo nei'

3
TBS Illustration
Education

Universities may launch online classes again after Eid

4
Photo: TBS
Bangladesh

Motorcycles banned on Padma Bridge 

5
Photo: Collected
Economy

Tech startup ShopUp bags $65m in Series B4 funding

6
World Bank to give Bangladesh $18b IDA loans in next five years
Economy

World Bank to give Bangladesh $18b IDA loans in next five years

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab
BENEATH THE SURFACE
The Dazzling Fake Flowers: Is there any alternative to artificial flowers while decorating homes, showrooms, offices and business establishments? Fresh flowers are undoubtedly beautiful, but they dry out quickly. Hence, the demand for plastic flowers is rising day by day. Traders said these lifelike silk flowers usually come from China and Thailand. The photo was taken from the 29th International Trade Fair of the Chattogram Chamber on Friday. PHOTO: Mohammad Minhaj Uddin

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net