The demand for microbuses rose amid the pandemic as it serves as substitutes for mass transportation for the tourism industry, offices, factories, hospitals, and educational students.
The importers have appreciated the recent move of the National Board of Revenue (NBR) to decrease supplementary duties on microbuses from 30 per cent to 20 per cent for microbuses with seating capacity of not more than 15.
The Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) requests the government to authorize a 45 per cent depreciation facility on imported reconditioned cars.
The president of BARVIDA stated that sales of cars will increase among the middle income households as the country transitions from it’s LDC category.
As per customs and BARVIDA data, tax revenue on imported reconditioned cars has increased as the government earned Tk686.77 Crore from 3,438 vehicles from July to November in the fiscal year of 2020 which was 5,007 vehicles in the fiscal year of 2019. Government also earned Tk2,649.95 Crore in the fiscal year of 2018 from 23,075 vehicles.