BEELIA demands reversal of elevator duty hike in proposed budget

Business Report :

The Bangladesh Elevator, Escalator and Lift Importers Association (BEELIA) has demanded that elevators be reclassified as capital machinery in the upcoming 2025-26 fiscal budget and that the recently increased duties and taxes on this product be withdrawn.

The association made this demand at a press conference held on Wednesday at the Dhaka Reporters Unity.

The event was addressed by BEELIA President Emdad Ur Rahman and General Secretary Md. Shafiul Alam Uzzwal, among other association leaders.

At the press conference, it was noted that until the 2021-22 fiscal year, elevators were imported under the category of capital machinery, which carries minimal import duties. However, from the 2022-23 fiscal year, the previous government suddenly reclassified elevators as commercial goods, resulting in significantly higher duties and taxes.