Import Tax Rate:
- Import Tax: 0-40%
- VAT 15%
- 2.5% infrastructure development surcharge is levied on imports.
Customs valuation done in Bangladesh
Customs valuation of imported vehicles is done to assess and realize the customs duty. The customs valuation is based on normal value concept. CIF (Cost, Insurance & Freight) is used to assess the custom duties. Customs Authorities collect the duties.
Duties applicable in Bangladesh for used cars
- Custom Duty rates fall in the range 0.0-40.0%.
- There will be an additional 15% Trade Neutral value-added tax applied.
- If you have a car having engine capacity more than 1,000cc, you may have to pay a supplementary duty too.
- There is now an automatic import permit system. The sole protective instrument for the majority imports is the 2.5% import permit fee.
- If you are a member of parliament, you can import automobiles for free as you won’t be subject to any Customs Duty.
Import Duty for Used Cars above 1,000 cc
Vehicles above 1,000 cc engine will have to pay a supplementary duty. More about it listed below:
- Vehicles up to 1500 cc- 20% Supplementary Duty
- Vehicles between 1501 cc to 2350 cc- 60% Supplementary Duty
- Vehicles between 2350 cc to 3500 cc- 100% Supplementary Duty