Laptop computers are going to be expensive in the next fiscal year as the finance minister has proposed to impose 15% VAT on the import of the device.
"I am proposing to impose 15% VAT on laptop computer imports," Finance Minister AHM Mustafa Kamal said during the budget speech.
"Presently, Laptop computer imports are subject to VAT exemption. As a result, domestic computer manufacturers are facing uneven competition," he said.
As a result, the total tax incidence of the product will be 31%.
"For the protection of domestic computer and laptop and ICT product manufacturers, I am proposing to expand the concession facility for import of raw materials for computer accessories and ICT industry," the minister further said.
To promote "Made in Bangladesh" branding worldwide and to protect the investment of domestic manufacturing industries, the finance minister proposed to withdraw the concessions on the import of printers and toner cartridges.
"This will help local manufacturers to reach the target of exporting digital devices," he added.