Budget and tricky car business
Every year even before the official announcement of our national budget, most people could sense what items would become costlier, thanks to the forecast by newspapers and electronic media. However, in this process some unscrupulous businessmen take the advantage of the pre-budget forecast and do brisk business depriving the government of due duty and tax. This year as well we came to know from the newspapers that the import duty on the motorised vehicles would go up in the upcoming budget and vehicles would become costlier, since the government is going to impose high tax on it. Some dishonest car importers have already opened crores of dollars LCs on various banks to import new vehicles and some have already stocked a large number of reconditioned cars and selling them at high prices, thus depriving the government of tax. The question is how these car importers became sure that car prices would go up in the market even before the approval of the budget? How was it possible for them to get sure on this matter without a tip-off from the higher authorities? Whatever might be the reason, the consequences of this will not bear any good result for the government or for the general people as a whole. On the one hand, the government and the NBR are going to lose thousands of crores of taka as revenue, and the general people are paying their hard earned money for buying these cars, falling prey to this tricky business by car importers and dealers.
The government's clear-cut strategy and monitoring could have saved us a lot of revenue, but we have lost this opportunity and the government now needs to chalk out a plan to stop this tricky car business.
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