Luxury cars to be cheaper
Private cars and sport utility vehicles (SUV) will be cheaper, especially the vehicles with engine capacity of above 1,500 CC, while new hybrid cars will be costlier, according to the budgetary proposals.
Taxes on cars with engine capacity between 1,800 CC and 2,000 CC will be eased due to slashing of supplementary duty (SD) from 150 percent to 100 percent, said Hamid Sharif, former secretary general of Bangladesh Association of Reconditioned Vehicle Importers and Dealers Association (BARVIDA).
Besides, prices of SUVs (between 2,001CC-2,750 CC) will also come down as the SD on these types of vehicles would be lowered to 200 percent from 250 percent, he added.
Prices of cars with engine capacity of up to 1,500 CC (cubic centimetre) will also slide as the demand of such vehicles will decrease though its current 45 percent SD will remain unchanged.
But the prices of new hybrid cars in the range of 1,500 CC to 2,500 CC will increase as SD on these cars will hike to 60 percent from current 30 percent. Import of hybrid cars in the country is still very nominal.
Prices of microbus and double-cabin pick ups will hike as the SD on these vehicles have been increased.
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