Budget FY27 to slash duties on musical instruments, film cameras to boost creative economy
Regulatory duty on musical instruments to be scrapped entirely; camera import duty cut from 15% to 5% as government eyes creative economy growth
The government is set to propose duty relief on musical instruments and film production equipment in the 2026-27 budget, in a bid to develop the country's creative economy and make high-quality content production more accessible to young creators.
Finance and Planning Minister Amir Khosru Mahmud Chowdhury is set to table the national budget in parliament tomorrow afternoon (11 June).
According to the Ministry of Finance and the National Board of Revenue (NBR) sources, the existing 5% regulatory duty on imports of guitars, pianos, violins and their parts and accessories will be fully withdrawn.
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Additionally, import duty on high-technology cinematographic cameras and spare parts for cameras and projectors will be reduced from 15% to 5%.
Policymakers say the duty reductions will significantly lower production costs for filmmakers, music producers, and digital content creators, opening new opportunities for young entrepreneurs and creative professionals.
Bangladesh's creative – or 'orange' – economy has been expanding rapidly, though analysts say it has yet to receive full policy recognition. The sector contributed more than Tk9,000 crore to GDP in the last fiscal year.
Data from the Bangladesh Bureau of Statistics (BBS) Economic Census 2024 shows that employment in the arts, entertainment, and recreation sector grew from 33,441 in 2013 to 1,12,829 in 2024 – a 237% increase over a decade.
Experts note that the sector has grown largely on the strength of market demand, digital platforms, and the freelance ecosystem, without significant government policy support – making the proposed duty relief a meaningful step toward formally nurturing creative industries as a pillar of the national economy.
