HM Murtuza | Published: 00:17, Jun 10,2022 | Updated: 00:40, Jun 10,2022

A wide range of import articles are going to face heavy duties in line with the government move to keep the spending of greenbacks in check amid the global price spiral. 

Finance minister AHM Mustafa Kamal came up with the revelation on Thursday during his budget speech for financial year 2022-2023 in the parliament in presence of prime minister Sheikh Hasina.

The new budgetary taxation measures are likely to compound the existing problems of individuals who are already shaken to the core by the inflation.

A supplementary duty has been imposed on cheese and curd at the rate of 20 per cent whereas there was no SD as such on cheese and curd imported earlier.

The finance boss proposed increasing customs duty on the import of birds of prey and psittaciformes including parrots, parakeets, macaws and cockatoos, ostriches, emus and other bird species to 25 per cent from 5 per cent.

Besides, the CD on domestic water purifying apparatus or machine was raised to 10 per cent from one per cent.

AHM Mustafa Kamal also proposed raising the customs duty on lifts and skip hoists to 5 per cent from 1 per cent, printing plates to 10 per cent from one per cent, cash registers to 10 per cent from zero, fan motor fitted with revolving mechanism not exceeding 37.5W and other motors not exceeding 37.5W to 15 per cent from 10 per cent.

Besides, he suggested increasing the customs duty on mobile and other battery chargers to 25 per cent from 15 per cent.

Apart from the CD, the minister in the FY23 budget also advocated for imposing a fresh 20 per cent supplementary duty on extracts, essences and concentrates.

Besides, the minister proposed to slap a fresh supplementary duty on processed and ready to consume coffee at the same rate.

Paper cup, plate and bowl will be dearer as a fresh SD at the rate of 20 per cent will be slapped on the items.

The same SD rate would apply to imported GI Fittings and Aluminium Foil. The SD rate on optical fibre cables import was set at 10 per cent.

The minister also proposed to slap fresh SD at the rate of 100 per cent on four stroke engines ranging between 251cc to 500cc and the same SD rate for the engines raging between 501cc to 800cc.

The SD rate on four-stroke engines above 800cc was proposed at 250 per cent while there was no SD on such engines in the FY22. The rate was proposed at 100 per cent on the two-stroke engines ranging between 251cc and 500cc.

For the import of two-stroke engines ranging from 501cc to 800cc, the supplementary duty would be 250 per cent. The same rate would apply to two-stroke engines above 800cc.

Apart from imposing fresh SD on these cars with a different engine capacity, the finance minister also recommended surging SD on cars with cylinder capacity ranging between 2001cc to 3000cc to 350 per cent from 200 per cent.

For the cars with 3001cc to 4000cc engine, the SD rate was proposed at 500 per cent from 350 per cent.

For importing car engines in completely knockdown condition, the minister proposed hiking the SD on 2001cc to 3000cc engine to 150 per cent from 100 per cent.

For 3001cc to 4000cc engines in CKD condition, the SD rate was proposed at 500 per cent from 350 per cent.

For hybrid and other motor vehicles including station wagons, the applicable SD on 2001cc to 2500cc engine was proposed at 60 per cent from 40 per cent while the proposed rate of SD on 2501cc to 3000cc engine was 100 per cent from 60 per cent.

For 2501cc to 3000cc engine, the rate would be 150 per cent instead of 100 per cent. It was proposed at 350 per cent from 300 per cent on above 4000cc engine.

In the proposed budget, the government also mulls over slapping a 15 per cert fresh VAT on some items including computer printers, toner cartridge for computer and portable automatic data processing machines weighing not more than 10kg consisting of at least a central processing unit, a keyboard and a display printer.

The finance minister also proposed to withdrew 5 per cent VAT waiver on the locally manufactured freeze and refrigerator. Besides, the finance minister also proposed to slap 15 per cent value added taxes on first class and air-condition compartment’s train ticket.

The government also proposed to withdraw a number of items from the list of capital machinery and slap taxes on them from financial year 2022-2023.

The items include printing plates, conveyor belts or belting – reinforced only with metal, conveyor belts or belting – reinforced only with textile materials and cash registers, among others.

The government in the budget for the new financial year proposed to reduce the import duty on a number of products including wheat gluten amid its soaring price due mainly to the Russia-Ukraine war.

It suggested reducing the customs duty on wheat gluten – be it dried or not – to 15 per cent from 25 per cent. Besides, bringing down the customs duty on cane molasses to 10 per cent from 15 per cent has also been proposed.

The finance minister recommended a 10 per cent customs duty from earlier 25 per cent for chiller imported by the industrial IRC holder and VAT compliant cold storage.

The customs duty on air-zinc battery for hearing aid was proposed to be reduced to 5 per cent from 25 per cent.

The finance minister came up with the proposal of withdrawing VAT, AT and AIT on wheel chairs that have 15 per cent VAT, 5 per cent AT and 5 per cent AIT respectively.

The customs duty on cashew nuts in shell will be reduced to one per cent.

Besides, the duty on vanilla either crushed or ground-wrapped or canned-up to 2.5kg and other was reduced to 10 per cent from 25 per cent.

The customs duty on Methanol HPLC was proposed to be decreased to 10 per cent from 15 per cent.

The duty on fungicides and other desiccant has been proposed to be reduced to 10 per cent from 25 per cent.

The customs duty on the new pneumatic tyres used in aircraft was proposed at 1 per cent from 5 per cent.

The duty on industrial silo and sewage treatment plant will be reduced at 5 per cent.

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Editor: Nurul Kabir , Published by the Chairman, Editorial Board ASM Shahidullah Khan on behalf of Media New Age Ltd. Hamid Plaza (4th floor), 300/5/A/1, Bir Uttam CR Datta Road, Hatirpool, Dhaka-1205. PABX: +8802-9632245-48. Fax: +8802-9632250, E-mail: [email protected]

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