Bangladesh VT Importers Association Seeks Restoration of Capital Machinery Status

The Bangladesh Elevator, Escalator and Lift Importers Association (BEELIA) is urging the government to reclassify vertical-transportation (VT) equipment as capital machinery and rationalize the existing duty structure, New Age reports. The association is arguing that the current tax regime is driving up housing and infrastructure costs while threatening the sector’s sustainability. BEELIA President Md Shafiul Alam Uzzwal noted elevators are no longer luxury products but essential equipment for urbanization, industrialization, high-rise construction and inclusive infrastructure development. Elevators were removed from the capital machinery category in 2023 and reclassified as commercial products, leading to increases in import duties in fiscal years 2024 and 2025. BEELIA also called for reforms to the duty and tax structure to facilitate the import of internationally certified elevators and discourage the use of low-quality and reconditioned units, which pose safety risks.