In the budget, the 15 percent Value Added Tax (VAT) on laptops has been withdrawn, but an additional 5 percent import duty has been levied. The supplemental budget has demanded CD and HS code updates to increase the size of monitors from 22 to 27 inches, inclusion of IT-based services to the hardware sector and withdrawal of import duty on printers and toner cartridges as demanded earlier.
This demand was made at the budget response press conference held at Tofazzal Hossain Manik Mia Hall of the National Press Club on Saturday.
Chaired by Engineer Subrata Sarkar, President of Bangladesh Computer Association; Secretary General Kamruzzaman Bhuiyan, Finance Secretary Anisur Rahman and Vice President Rashed Ali Bhuiyan spoke at the press conference.
Subrata Sarkar said that Bangladesh has been made digital Bangladesh today due to VAT-tax exemption from computers under the leadership of Prime Minister Sheikh Hasina. This time hardware parts import duty should be freed for implementation of Smart Bangladesh also. At the same time, for the sake of establishing hardware industry in the country, the 1 percent duty imposed on the import of valuable equipment in the hi-tech park should be withdrawn.
In response to the question of how the price of the laptop will be reduced after the withdrawal of VAT, he said that the price of the laptop will be reduced by 10 percent. Because even though VAT has been withdrawn, an additional 5 percent duty has been imposed.
Ease of doing business for the hardware industry in Bangladesh will attract foreign investment to reduce import dependency along with capital protection.
Kamruzzaman Bhuiyan said that laptop is not a hobby product. Therefore, we express our gratitude to the Prime Minister, Prime Minister’s Investment Adviser, Finance Minister, Finance Secretary and Minister of State for withdrawing the moratorium on this. At the same time every IT product should be affordable so that the complexities are eliminated. We hope the tax concession will be extended till 2031.
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