Every year after the announcement of the budget, there is a change in the prices of several goods and services. Generally, the prices of the products which the finance minister proposes to reduce or withdraw the duties and taxes in the budget proposal are reduced. Finance Minister Abul Hasan Mohammad Ali on Thursday proposed the budget for the fiscal year 2024-25 in the National Parliament and it is expected that the price of imported laptops and computers will decrease by 10 percent from the existing market price in the coming days.
Bangladesh Computer Association President Subrata Sarkar said that no facilities have been kept for the establishment or production of hardware industry in the country. In his post-budget response, he said, “There is no good news for us other than a 10 percent reduction in laptop prices.” In addition, 5 percent tax on manufacturing will discourage computer hardware product manufacturing in the country. Similarly, it will be difficult to compete with the international market and export costs will increase.
He also said, despite our demands, the hardware sector has not been included in IT/ITAS. As usual 15 percent VAT on printers and 22-inch monitors and 24-inch monitors have been placed under separate HS codes. So, we can say that our demands have not been met in the budget.
Finance Minister Abul Hasan Mahmud Ali said in the budget proposal in Parliament this afternoon that in order to implement the Smart Bangladesh slogan announced by the current government, laptop import duty has been increased from 5 percent to 10 percent to make laptop products available to domestic consumers and to protect buyers from fraud by purchasing fake or refurbished laptops. At the same time, we recommend the withdrawal of import duties. In this, the total tax burden will decrease from 31 percent to 20.50 percent.
The overall tax rate on laptop imports will be reduced to 20.50 percent from 31 percent in the current financial year. VAT on imported laptops was 15 percent.
Meanwhile, in the proposed budget, the import duty has been reduced from 10 percent to 5 percent, so the import duty of CKD engine parts of motorcycles manufactured in the country is decreasing in the coming financial year. This may reduce the price of motorcycles made in the country. There may also be some benefit from reduced costs in aircraft maintenance. The price of switch-sockets used in homes is likely to come down. Because the prices of switch-sockets, holders, electric motors, dialysis filters produced in the country are also expected to decrease slightly.
