Older the car, cheaper
Published: 2013-06-06 12:06:29.0 BdST Updated: 2013-06-06 12:16:44.0 BdST
Finance Minister AMA Muhith's 2013-14 budget will make those looking to buy cars happy.
The prices of reconditioned private cars will drop -- older the car, the cheaper.
While Bangladesh allows import of vehicles up to five years old, the Minister came up with a taxation proposal going by the age of the cars.
That raised the price of the cars and in some cases “prices of old cars were higher than new ones".
Reconditioned vehicles now incur a total of 25 percent depreciation and 10 percent dealers commission – 35 percent in all.
The Finance Minister proposed a year-based depreciation system – zero percent for an one year old car, 30 percent for cars between 1-2 years old, 35 percent for those 2-3 years old, 40 percent for 3-4 years old and 45 percent for 4-5 year old cars.
Muhith said under the new system dealers will not be entitled to commissions separately and the value of reconditioned cars on which depreciation will be allowed, will not be more than price of a new car.
Former Bangladesh Reconditioned Vehicles Importers and Dealers Association (BARVIDA) President and current FBCCI Director Abdul Haque sounded happy with the proposal while talking to bdnews24.com.
“People will now get cars at lower prices but revenue will also increase.”
Any unauthorised use or reproduction of bdnews24.com content for commercial purposes is strictly prohibited and constitutes copyright infringement liable to legal action.
- Judges' services rules with president, says law minister
- Autopsy done on bodies of two militants killed in Sylhet
- 6 Barisal City Corporation councillors suspended on charges of violence
- Visitors barred at Dhaka airport terminals to beef up security ahead of IPU Assembly
- Four dead, 10 missing after trawler sinks in Bagerhat river
- MP Salim Osman to face trial for publicly humiliating school teacher
- Bangladesh, UK sign MoU for ‘strategic dialogue’
- Unidentified bullet-hit body found in Brahmanbarhia
- At least three dead after trawler sinks in Bagerhat river
- Suspected militants carrying gunpowder arrested by Rajshahi police
- Four suspects dead inside Sylhet's terror den, army to continue operation
- Former Indian army veterans all praise for Bangladesh para-commandos
- Indian visa rules for Bangladeshis relaxed further
- Bangladesh v Sri Lanka: 2nd ODI in Dambulla
- Army releases videos of assault on Sylhet militant hideout
- Buoyant Bangladesh primed to secure first ODI series against Sri Lanka
- Trump son-in-law to testify on foreign contacts in Russia probe
- Police believe female suspect among four killed in Sylhet is 'Morjina Begum'
- Sex in Thai city frustrates junta
- Bangladesh information minister backs controversial Section 57 of ICT Act