The government has proposed a 1% import duty on all types of capital machinery for industries in economic zones and high-tech parks for the fiscal year 2024-25.
In the budget proposal for FY25, presented in parliament today (June 6), Finance Minister Abul Hassan Mahmood Ali announced this new duty. Additionally, he stated that used construction materials brought in by developers for the development of economic zones will also be subject to a 1% duty.
For vehicles intended for use in these industrial areas and high-tech parks, all import taxes will apply, except for customs duty.
Moreover, the minister proposed a 5% import duty on goods used in the development of high-tech parks.
Currently, there is no import duty on capital machinery for industrial establishments investing under the Bangladesh Economic Zones Authority (BEZA), and no tax on construction materials.