Can Firms located inside EPZs import vehicles duty free?
16/05/16 at 3:51 pm
Vehicles (car), pickup, jeep and microbus imported by firms located in export processing zones are exempted from Customs duty, Value Added Tax, and Supplementary Duty (where applicable) subject to fulfilment of conditions laid down in SRO 151-Act/99/1787/Customs and VAT date 10/06/1999.
Some of the conditions include:
The firm importing the vehicles must have 100% foreign capital investment;
In the case of Joint Venture, foreign investment in terms of capital of the firm must be more than 50%;
If the amount of foreign capital is not more than 50%, a certificate from the BEPZA to the effect that at least 500 Bangladeshi citizens have been employed or will be employed in the firm will have to be submitted to the Customs Authority;
Vehicles (car), pickup, jeep and microbus imported under this order will not be transferred through sale or any other arrangement within five years from the date of clearance of the same; and
Vehicles (car), pickup, jeep and microbus imported will not be used for purposes other than for production or related activities of the firm or for any other commercial purpose.
[This is for informational purposes only. In case of contradiction of conflict with relevant Act/Rules, provisions mentioned
or referred to in the said Act/Rules shall prevail.]