In the coming fiscal year, new taxes on luxury vehicles could be imposed. This may cause luxury car costs to rise even further.
Currently, a 200% additional fee is imposed on cars imported with capacities ranging from 2,001CC to 3,000CC.
This could be increased to 250%, while the applicable extra duty for autos ranging from 3,001CC to 4,000CC could be increased to 350%, a 500% increase.
A huge number of SUVs or SUV models are now being imported into the country, most of which have engine capacities of more than 2,000cc.
Earlier, the government hinted that the owners of more than one car going to incur an environmental protection charge beginning with the next fiscal year, as the government wants to discourage vehicle use in order to reduce carbon emissions and air pollution.
According to the notion, owners of multiple passenger cars, jeeps, and microbuses may be required to pay a premium based on engine capacity.
According to the Finance Ministry's plan, owners of cars up to 1,500cc may be required to pay Tk 25,000 extra for each vehicle following the first. The sum is the advance tax that an automobile owner must pay to the state coffers.
The surcharge would be doubled to Tk 50,000 for the second and subsequent automobiles with engine capacities ranging from 1501cc to 2,000cc.
The tax office is considering imposing an environmental protection surcharge of Tk75,000 on every second automobile, jeep, or microbus with a capacity of 2,001cc to 2,500cc. The sum is equal to the withholding tax that a car owner must pay while renewing a vehicle's fitness.
