Economic Reporter :
The government has launched a project for automation of customs bond management to bring full transparency in the system and reduce time and cost of doing business. “The automation also aims to protect local industries from the uneven completion of business by preventing illegal entry of goods under duty-free access,” an official engaged in the project told this reporter.
Besides, the number of cases pending in the courts will be reduced along with handling and examining the cases with the automated system, he added.
The project will be implemented in the districts of Dhaka, Chittagong, Sylhet, Rajshahi, Khulna, Rangpur and Mymensingh divisions.
National Board of Revenue (NBR) is entrusted to implement the project with Taka 81 crore by December 2018. NBR formed separate Bond Commissionerate in 2000 to offer bonded warehouse services to export oriented industries. Later in 2011, the Bond Commissionerate has been split into Dhaka Bond Commissionerate and Chittagong Bond Commissionerate following increased trade and business.
According to the official document, the government provides Taka 30,000 crore duty advantage annually to the bonded industries through bonded warehouse facilities.
The government has launched a project for automation of customs bond management to bring full transparency in the system and reduce time and cost of doing business. “The automation also aims to protect local industries from the uneven completion of business by preventing illegal entry of goods under duty-free access,” an official engaged in the project told this reporter.
Besides, the number of cases pending in the courts will be reduced along with handling and examining the cases with the automated system, he added.
The project will be implemented in the districts of Dhaka, Chittagong, Sylhet, Rajshahi, Khulna, Rangpur and Mymensingh divisions.
National Board of Revenue (NBR) is entrusted to implement the project with Taka 81 crore by December 2018. NBR formed separate Bond Commissionerate in 2000 to offer bonded warehouse services to export oriented industries. Later in 2011, the Bond Commissionerate has been split into Dhaka Bond Commissionerate and Chittagong Bond Commissionerate following increased trade and business.
According to the official document, the government provides Taka 30,000 crore duty advantage annually to the bonded industries through bonded warehouse facilities.
