Importing aircraft to become cheaper

Finance Minister AHM Mustafa Kamal has proposed advance tax exemption for aircraft imports by registered companies in the proposed budget for the fiscal year 2022-23.

Owing to this, importing aircraft in FY 2022-2023 is going to be cheaper.

In addition, the customs duty on new pneumatic tyres, made with a type of rubber generally used on aircraft, has been reduced from 5 percent to 1 percent.

The customs duty on sparking plug used exclusively for aircraft and helicopter engines has been reduced from 10 percent to 1 percent.

The proposal was made by the finance minister while presenting the proposed budget for the fiscal year 2022-23 in parliament today.