Al Amin :
The National Board of Revenue (NBR) has brought some changes in bonded management rules aiming at accelerating and expanding the country’s export trade.
The country’s deemed (indirect) exporters who have bonded license will be benefited from the easing of the management rules, NBR officials said.
The relaxation will also reduce time and cost of the bonded companies to import raw materials, the officials said
Khondaker Muhammad Aminur Rahman, Member (Customs: Audit, Modernization and International Trade), of the NBR presided over the meeting. In the meeting, the exporters placed some proposals to expedite the country’s export by reducing time and cost.
Among the proposals, the NBR accepted three and issued an office order in this regard on Wednesday by relaxing the rules, the officials said.
According to the office order under signed by Md Moshiur Rahman Mandal, Second Secretary of the NBR, all the premises of the warehouse of the bonded companies will be considered as bonded area and the companies will refrain from importing raw materials not more than their production capacities at a time.
Earlier, the NBR used to file case against the concern company accusing misuse of the bonded facility, if it found goods at the premises of the warehouse.
NBR will provide certification letters with conditions to the bonded companies to release imported raw materials without bank guarantee during renewal or audit period of the bonded companies’ license, the order said.
Earlier, it took five to six months to release imported raw materials by maintaining all the official procedures during the license renewal time. The decision will help to reduce both time and cost of the exporters.
Besides, the bonded companies will be able to cite more than one issue in a single letter and the NBR will give approval in a single office order to reduce time, the order stated.
Abdu Kader Khan, President of the Bangladesh Garments Accessories & Packaging Manufacturers & Exporters Association (BGAPMEA), told The New Nation, “NBR accepted three out of four of our proposals and issued an office order on Wednesday.”
“The order will help to boost the country’s deemed export,” the BGAPMEA president said.
The deemed exports of yarn, fabrics and accessories are considered to be indirect exports, as they are exported as components of the final export product, knit or woven garments.
NBR provides bonded warehouse facilities to export oriented industries for importing raw materials and packaging materials used for export purposes without any kind of duties.
