Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) wants an increase in their depreciation facility from 35 percent to 50 percent in the case of import of reconditioned motor vehicles in the next budget. The BARVIDA president Md. Habib Ullah Don gave this proposal to the National Board of Revenue (NBR) at the pre-budget discussions on Monday. BARVIDA President said that the provision of providing the highest rate of depreciation in the first year for any product is internationally accepted. For age calculation to provide depreciation, the year recorded is treated as current as per the import policy. A tale of multiple marriages, betrayal and murder In terms of determining the rate of depreciation, depending on the year and the nature of the vehicle, zero percent for one-year reconditioned vehicle, 10 percent for two-year-old vehicle, 20 percent for more than 2 years old, 30 percent for up to 3 years old, 40 percent for 4 years old and 50 percent for 5 years old. He said, if this proposal is considered, the import of cars will increase. This provision will play an effective role in meeting the revenue targets of the NBR. On the other hand, the market for world-class reconditioned cars at affordable prices will expand at the grassroots level. New employment will also be created, said BARVIDA President. 10-year old boy killed after abduction in Keraniganj; prime accused arrested Don said during the severe crisis of public transport, the introduction of healthy and modern public transport in its limited practical scope by reducing the supplementary tariff of microbuses used to transport large numbers of passengers. “I hope that in the next budget too, the policy will favour the majority of the motor vehicles to keep the lifestyle of the people engaged in production and development dynamic,” he added. They also proposed to revise the CC slab and supplementary duty on import of old hybrid cars. BAVIDA said that since the import of old reconditioned hybrid cars has been allowed, various studies have proved both the state and consumers are benefiting from hybrid cars as they are good for the environment as well as fuel efficient. 'Unveil true circumstances of Preeti's death': Domestic Workers Rights Network The vehicle importers demanded to increase the CC slab up to 4000 CC from 289 percent to 442.60 percent. BARVIDA leaders believe that imports of the advanced technology environment and energy-friendly hybrid vehicles will be facilitated if the proposed rates are considered. The NBR chairman Abu Hena Md Rahmatul Muneem in response said that if duty support is given, that facility is misused. “When it is misused, the industry is affected. Because of this, we have to consider many things before giving policy support,” he said.

Mohammad Habib Ullah Dawn has been elected president and Mohammed Shahidul Islam secretary-general of the Bangladesh Reconditioned Vehicles Importers and Dealers Association (Barvida) the for the next two years. Md Aslam Serniabath, Reaz Rahman and Md Gias Uddin Chowdhury were elected vice-presidents. Read BARVIDA asks for tax- free microbus imports and 45% depreciation facility The biennial election of Barvida was held on June 18 where 25 candidates out of 62 were elected by 639 voters.   Md Selim Hossen, chairman of Barvida election board 2022-2024, announced the result.  Read BARVIDA demands car market expansion, rationalising import duty

Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) called on the government to withdraw tax on microbus as it is widely used for public transportation and has a significant impact on urban and rural life. Secretary General of the organization Mohammad Shahidul Islam made this call at the post-budget press conference held in BARVIDA office Wednesday. Mohammad Shahidul Islam said they wanted the government to provide the 45% depreciation benefit on reconditioned cars and a year-round depreciation benefit but it was not included in the budget. He urged the government to consider their proposal and include the depreciation benefit to the budget. In this conference BARVIDA sincerely thanked the Prime Minister and Finance Minister for preparing a new budget amid pandemic that includes reduced tariffs on imports of microbuses and hybrid cars and jeeps. Read Top Insurance Companies in Bangladesh in 2021 They also praised the government for recognizing microbuses as public transport and discouraging unsafe transport like Nasimon, Laguna, etc. Quoting Japan International Cooperation Agency (JICA), BARVIDA leaders mentioned that the establishment of a new car industry in the country would be reasonable only if the domestic market for the car is 1 lac units. They pointed out that in some cases, the price of a reconditioned car gets higher than that of a new car due to extreme inequality in the tariff. As a result, buyers are declining, importers are declining and traders in the sector are facing a severe financial crisis. Also read: The World's 10 Self-made Youngest Billionaires in 2021 BARVIDA also called on the government to ensure that no attempt is made to establish a "screwdriving industry" by importing CKDs (Complete Knock Down) in the name of establishing a new industry. They urged the government to do its utmost ensuring that the country's long-established reconditioned car import sector is not harmed in any way at the free market economy. Abdul Haq, President of the Association along with the executive members and general members of the organization were present at the conference.

Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) on Wednesday (April 28, 2021) demanded measures for expansion of the car market and increasing the government’s tax collection by rationalising the import duty on reconditioned vehicles and new cars. Leaders of the BARVIDA placed the demands at a virtual press conference held from its Bijoynagar office. Putting emphasis on the stability in the already-established reconditioned car industry, they said with the current perspective, the country needs a realistic, progressive, and implementable policy so that real automotive manufacturing industry is established which will also guarantee the protection of stability in the years-long business of import of reconditioned vehicles. Read NBR expands net, moves to raise revenue collection from income tax wing. Moreover, it is very important to reduce the discrimination in tariff in import of reconditioned cars and new ones for the greater interest of the market expansion of the cars in the country, said the BARVIDA leaders. They said the government can collect huge revenue from the higher sales of cars among the growing middle-income consumers during the period of the country’s graduation to a developing nation from the list of least developed countries (LDC). Addressing the conference, BARVIDA president Abdul Haque welcomed the government’s initiative of formulation of ‘Automotive Industrial Development Policy 2020’ adding that the production of the proposed ‘Made in Bangladesh’ or ‘National Car’ branded motor cars in Bangladesh would be a pride for BARVIDA. Also read: Resolve custom valuation issues of imported cars: BARVIDA But it needs to consider the current situation of the sector concerned, experiences of other countries and realities of the country before the establishment of any new industry, he said. In this case, the BARVIDA leaders suggested the protection of the four-decade import business of the reconditioned vehicle industry, said a press release. They also suggested the government assess the impacts and effectiveness of automotive industrial policy by an independent and credible international agency. The leaders said the local business of imported reconditioned vehicles was established with the investment of several thousand crores of Taka, which has created employment for over one lakh people directly or indirectly. The sector has been contributing to the economy paying thousand crore of Taka as revenue to the national exchequer every year. Also read: BARVIDA donates ambulance to PM's humanitarian programme Noting that the environment-friendly cars produced in Japan with resale value are the first choice by the local customers, they said the BARVIDA is concerned whether any screw driving industry is going to be established in the name of setting up the country's own car-making plant denying the customers’ choice. Referring to a recent survey of the Japan International Cooperation Agency (JICA), the BARVIDA president said it is feasible to establish the country’s own car-making plant, if one lakh pieces of car are sold in the domestic market of Bangladesh in a year. However, in the domestic market of Bangladesh some 10,000 units to 20,000 unit cars are sold in a year, he said. “So, the government needs to take measures to expand the local car markets before going for local production and aiming to export cars. In this case, it is very urgent to remove the discrimination of tariff structures on import of reconditioned cars and locally produced cars,” he said. Read Experts for more growth-friendly, simple, transparent tax system In a recent pre-budget meeting with NBR officials, the BARVIDA demanded for increasing the depreciation benefit in import of cars by restructuring the supplementary duties on import of hybrid and fossil fuel-driven cars and withdrawal of supplementary duty on import of microbuses, the BARVIDA president said. The BARVIDA leaders said the import of reconditioned cars declined significantly over the last few years in Bangladesh because of wide discrimination of duty between on import of reconditioned and new cars. So, the government’s revenue collection from the sector also faced a stumble. The BARVIDA did not get any loan from the government-sponsored stimulus package started one year ago. Read BARVIDA for reforming customs valuation system for vehicles The Chattogram port has yet to waive the port demurrage charge that was levied last year by the port authority on the importers even during the general public holidays despite an application by the BARVIDA. But the port authority has exempted the tax on container transportation. So, for the revival of the sector from the fallouts of the Covid-19, the BARVIDA wants to see the implementation of their placed proposals in the upcoming national budget for fiscal 2021-22, the leaders said. BARVIDA vice president Saiful Islam (Samrat) and secretary-general Mohammad Shahidul Islam also spoke on the occasion. Read NBR sets its sight on cranking up tax-GDP ratio

The members of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) called upon the authorities to resolve the custom valuation problems for both new and reconditioned cars, for the sake of the sector’s development.

The leaders of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) have urged the Mongla Port Authority (MPA) to improve facilities and facilitate its services.