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Air Ticket Prices Set to Rise with Increased Excise Duty
The cost of air tickets for domestic flights, SAARC countries, and international destinations is set to increase as the National Board of Revenue (NBR) plans to raise excise duties on air travel.
Sources within the NBR indicate that the excise duty on domestic air tickets will rise from Tk 500 to Tk 700. For flights to SAARC countries, the duty will double from Tk 500 to Tk 1,000, while international flights will see an increase from Tk 3,000 to Tk 4,000.
The NBR is expected to issue a formal order on the price hike by Sunday. Once implemented, the change will impose an additional financial burden on air travelers.
The NBR anticipates collecting an extra Tk 300 crore from the increase in air ticket duties. Additionally, the government plans to raise taxes on tobacco products to generate nearly Tk 4,000 crore more in revenue during the remainder of the fiscal year.
In a bid to further boost revenue, the NBR will also abolish truncated VAT rates on 43 goods and services, applying a standard 15% rate instead. This move is in line with conditions set by the International Monetary Fund (IMF) to generate an additional Tk 12,000 crore in revenue for the current fiscal year.