Unscrupulous motorcycle dealers are taking advantage of the soaring demand for motorcycles in Dhaka by under-invoicing their imports and paying artificially-lowered taxes to the government. A motorcycle shop in Moghbazar recently imported 24 motorcycles of two different models from Dolphin Motors in India, selling them for an average of Tk150,000. The total amount of taxed revenue lost by the government due to this single transaction was about Tk98,000 ($12,000). Head of Operations of TVS Auto Bangladesh, Biplob Kumar Saha, suggested increasing tax monitoring and border patrols to curb this illegal activity. “We import motorcycles by paying 150% import tax, while these unscrupulous importers are under-invoicing, costing the government hundreds of thousands in revenue,” he said.

Source: Dhaka Tribune September 26, 2017 12:45 UTC