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The Financial Express

Microbuses now cheaper


Microbuses now cheaper

The import of petrol-run microbus becomes cheaper as the government reduced its supplementary duty (SD) by 10 percent to facilitate transportation.

Sources in business circles said around 200 of 10-15-seated microbuses currently remained stuck at the port since July 1, 2021 on a demand for cutbacks on the import tax.

The customs wing of the National Board of Revenue (NBR) lowered the SD to 20 per cent from 30 per cent for these microbuses through issuing a Statutory Regulatory Order (SRO).

The reduced rate came into effect from August 29, 2021.

In the budget for the current fiscal year (FY), the NBR cut SD for only diesel-run 10-15-seater microbuses.

A senior customs official said the HS code for petrol-run microbus, a widely used public transport, has been dropped unintentionally in the finance act 2021.

"We have now included those vehicles under the reduced SD facility," he added.

Bangladesh Reconditioned Vehicle Importers and Dea-lers Association (Barvida) president Md Abdul Haque said petrol-run microbus is the most- used one, 98 per cent, compared to diesel-run vehicles.

In Mongla and Chattogram seaports, more than two hundred petrol-run microbuses are waiting for the latest SRO of customs on slashing the tax.

He said a total of 78 petrol-run microbuses had been released paying 30 percent SD since July 1, 2021.

"The importers should get refund of their paid additional 10 per cent SD for the sake of justice as prices of the vehicles will be same at the consumer level," he said.

The BARVIDA would place demand with the government high-ups for refund of the SD as additional taxes, he added.

In the post-budget conference, the reconditioned vehicle importers demanded full withdrawal of SD on the import of 10-15-seater microbuses.

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