Staff Reporter :
The reconditioned vehicles importers on Tuesday said that an unusual situation has been prevailing in this sector for the last ten years due to negative impact of the unequal policies.
The businesses are incurring lose as the imports and sales of reconditioned cars have declined during this time, they said at a pre-budget discussion with the National Board of Revenue (NBR) at the conference room of the state exchequer in the capital.
The NBR organized the discussion meegting with the leaders of the Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA).
Member (Income Tax policy) of the NBR Md Alamgir Hossain, presided over the meeting while Md Saiful Islam, Member (Duty and VAT Administration) and Syed Golam Kibria, Member (Duty Policy and ICT Division), among others, were present.
Leaders of the BARVIDA also proposed for fixing ‘specific duty’ on imports of the reconditioned vehicles along with brand new cars.
Abdul Haq, President of the organization, said “Revenue has been declined sharply due to lower sales of old cars and lower tariffs on new cars in the last few years.”
“Besides, the consumers are incurring loss by purchasing inferior quality new cars as the prices of the old cars are comparatively higher than the new one. We need to come out from this situation,” he added.
