1% import duty proposed for capital machinery in EZs, hi-tech parks
The government has proposed a 1% import duty for all categories of capital machinery for industries in economic zones and high-tech parks for the fiscal year 2024-25.
In the proposed budget for FY25, placed in the parliament today (6 June), Finance Minister Abul Hassan Mahmood Ali said a 1% duty is being imposed on used construction materials brought in by developers for the development of economic zones.
Additionally, vehicles intended for use in these industrial areas and high-tech parks will be subject to all import taxes except customs duty.
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The minister also said a 5% import duty has been proposed on goods used in development works of high-tech parks.
At present, there is no import duty for all categories of capital machinery of industrial establishments investing under the Bangladesh Economic Zones Authority (BEZA). Similarly, there was no tax to be paid on construction materials.
