Al Amin :
The National Board of Revenue (NBR) is going to introduce ‘Expedited Shipments’ policy to release imported goods through curriers smoothly and to prevent duty evasion.
To get the system, the revenue board has drafted a policy and now waiting to get final approval.
Currently, the NBR earns revenue worth around Tk 30-35 crore per month from the currier wing of the board, as short consignments of the traders are imported through the air services.
NBR officials said, imported goods through currier services will be released smoothly as well as tax evasion will be prevented, if the policy implements.
The system will be formulated align with the Trade Facilitation Agreement (TFA) of WTO to boost cross border trades, the officials said.
As per the TFA, each member country shall adopt procedures allowing for the expedited release of at least those goods entered through cargo facilities to persons who apply for such treatment, while maintaining customs control.
The country’s economy is expanding rapidly and also increasing cross border trades significantly in the last few years. Getting quick delivery, the importers, especially the bonded warehouse facilitated companies, use curriers.
As a result, pressure on air cargos is growing first along with sea ports.
Under this circumstance, the NBR is going to formulate the policy to release imported goods smoothly.
According to the policy, the imported goods will be of categories and will be released through three channels-green, yellow and red-without any hassle, the officials said.
All valued and dutiable goods will be released through the red channel and the documents
of the goods will be verified by on duty deputy commissioner or assistant commissioner of the concern Customs Commissionerate, the drafted policy said.
Mohammad Hatem, Executive President of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), told The New Nation, “NBR has undertaken an admirable initiative to make business easy. We welcome it.”
However, the policy should be business-friendly, updated and hassle-free, he said.
He also said, the measure should introduce all customs wings to release goods smoothly for the sake of the country’s economic interest.
Good practices for international trades are allowing electronic submission and processing of information required by customs, launching electronic single windows, using risk-based inspections, deepening regional cooperation and sparking competition by making private participation easier.
Besides, upgrading trade logistics infrastructure, promoting efficiency in product-specific inspections and training and communication with trade stakeholders are also important for the cross border trades..
