15pc VAT on imported laptops, price to go up

Finance minister AHM Mustafa Kamal has proposed 15 per cent Value Added Tax (VAT) on imported laptops in the proposed budget of 2022-23 fiscal year.

As a result, people will have to spend more on buying laptops.

The finance minister made the proposal for the upcoming budget while delivering the budget speech in parliament Thursday.

In his budget speech he said, “There is VAT exemption on the import of laptop. In consequence, local laptop manufacturers are facing unequal competitions. So I’m proposing imposition of 15 per cent VAT on the import of laptops.”

After imposing the new VAT, the total tax imposed on imported laptops will amount to 31 per cent.

The total size of the proposed budget stood at Tk 6,780 billion. The government expects to bag an earning of Tk 4,362 billion in the year while the remaining Tk 2,417 billion has been shown as deficit in the budget.

The government would collect loans from domestic and foreign sources to make up the deficit.