Budget, June-6, (V7N, Dhaka)- In the proposed budget for the fiscal year 2024-25 presented in the National Parliament, the provision of duty-free import of cars for members of parliament from abroad has been proposed to be revoked. This provision, which has been in place for 36 years, will be abolished, and duties and VAT will be imposed instead. If the proposal is implemented, MPs will have to pay a 40 percent duty on car imports.
 
On Thursday (June 6), Finance Minister Abul Hassan Mahmud Ali presented the budget proposal for the fiscal year 2024-25 in the National Parliament. The budget proposal for the new fiscal year was presented in the presence of Speaker Shirin Sharmin Chaudhury and Prime Minister Sheikh Hasina at 3 pm today.
 
In the budget speech for the fiscal year 2024-25, Finance Minister Abul Hassan Mahmud Ali mentioned that all types of duty exemptions exist for car imports by Members of Parliament. "For this purpose, the provision regarding the exemption of duties for Members of Parliament in the field of car import can be changed," said the Finance Minister. He further stated, "I propose to reduce the duty exemption slightly and determine only a 25 percent duty on imports and a 15 percent VAT, while maintaining all other duty exemptions and facilities." For this purpose, I propose to cancel the existing resolution and issue a new resolution."
 
Abul Hassan Mahmud Ali mentioned that to depart from the culture of tax exemptions at all levels and to inspire everyone to pay revenue, Members of Parliament will set a great precedent by changing the authority for car imports, except for paying all types of taxes.
 
A resolution issued by the then government in May 1988 provided Members of Parliament with the facility of duty and tax exemption for car imports. This facility is still in force. Since 2009, Members of Parliament have imported a total of 572 cars over the past 15 years. They received duty exemption benefits amounting to Tk 5,014.7 crore. If this is implemented until the end, MPs will have to pay a 40 percent duty on imported cars.
 
It is known that most Members of Parliament have imported cars from Japan, including various brands. Among these cars, Toyota Land Cruiser, Range Rover, and Mitsubishi Pajero are prominent. Ordinary citizens have to pay import duties ranging from 100 to 500 percent to import these cars. In addition, various supplementary duties and VAT are levied based on the engine capacity of the car.
 
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