Firefighting equipment to be cheaper
During 2019-20 fiscal year’s budget announcement, Finance Minister AHM Mustafa Kamal proposed to reduce the duty on firefighting equipment.
“We have experienced some fire incidents on a huge scale recently. At present, only VAT registered industries can import firefighting equipment at a concessionary rate. To combat the rise of fire incidents, this facility should be extended to all and I propose to allow this facility to all VAT registered service-oriented organizations like hotels, hospitals, educational institutions, etc,” Finance Minister Kamal said during his budget speech.
Five firefighting equipment mentioned in Budget Speech 2019-20:
Promaspray-300 (Plaster/Cement) - duty remains unchanged
Bondseal paint - duty reduced from 25% to 5%
Fire retardant paint - duty reduced from 25% to 5%
Fendolite MII (Mixture) - duty reduced from 10% to 5%
Lightning arresters - duty reduced from 10% to 5%
“I also propose to include a few more fire fighting equipment in the concessionary list,” he added.
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