The New Nation - Internet Edition

Staff Reporter

Abdul Haque, President of Bangladesh Reconditioned Vehicles Importers and Dealers Association (BRVIDA), yesterday called for application of indiscriminately value added Tax (VAT) regulations conducive to industrial development for motor vehicles with a view to developing recondition car industry in the country.

Addressing a press conference, he urged the government to implement article 141 (2) of the Statutory Regulation Order (SRO) where the first year of the production of a car that is written in the chassis book of the car should be treated as first year in fixing depreciation.

He pleaded the government to implement the rate of depreciation for at least 5 or 6 years in case of fixing VAT according to expanded duration.

Haque also suggested fixing import duration at 10 years for commercial, industrial, special purpose vehicles, and agricultural purpose vehicles to expedite advancement of industry and commerce of the country.

He also asked the government to implement Motor Vehicle Dealers Regulation System to bring order in the sector.

Members of BRVIDA were also present in the conference.