Economic Reporter :
The National Board of Revenue (NBR) will soon introduce ‘Authorized Economic Operator (AEO)’ on experiment basis to assist clearing import-export goods at lower costs and in shortest possible time.
“We’re going to introduce this special facility for assisting the business houses. As the country’s businesses sector is expanding gradually, the customs will have to maintain pace with it. It is a step to modernize our customs,” said NBR chairman Md Nojibur Rahman while speaking at a workshop on AEO at a city hotel on Wednesday.
NBR member (customs inspection and international trade) Khandaker Mohammad Aminur Rahman, chief of NBR’s AEO committee Prokash Dewan and Dr Muhammad Khairuzzaman of USAID, among others, attended the opening session of the workshop.
Two pharma companies will be given AEO facility in January next and the NBR is hopeful of introducing this system fully in 2019.
Nojibur said AEO will help businesses expand in the country. The NBR will complete the process of giving the business houses AEO status quickly, he added.
It was said in the workshop that the business houses which have good business record and are technically sound will be declared as AEO and these houses will have to face less inspection to get clearance from customs for their import-export products at ports.
Prokash Dewan said there will be no mandatory provision for business houses to be in the list of AEO. This facility will brand the houses which will be on the list of AEO, he added.
“The AEO reflects that they are doing business maintaining rules and procedures . . . these companies are not dodging duties-taxes that will boost their image at home and abroad,” said Prokash Dewan.
The National Board of Revenue (NBR) will soon introduce ‘Authorized Economic Operator (AEO)’ on experiment basis to assist clearing import-export goods at lower costs and in shortest possible time.
“We’re going to introduce this special facility for assisting the business houses. As the country’s businesses sector is expanding gradually, the customs will have to maintain pace with it. It is a step to modernize our customs,” said NBR chairman Md Nojibur Rahman while speaking at a workshop on AEO at a city hotel on Wednesday.
NBR member (customs inspection and international trade) Khandaker Mohammad Aminur Rahman, chief of NBR’s AEO committee Prokash Dewan and Dr Muhammad Khairuzzaman of USAID, among others, attended the opening session of the workshop.
Two pharma companies will be given AEO facility in January next and the NBR is hopeful of introducing this system fully in 2019.
Nojibur said AEO will help businesses expand in the country. The NBR will complete the process of giving the business houses AEO status quickly, he added.
It was said in the workshop that the business houses which have good business record and are technically sound will be declared as AEO and these houses will have to face less inspection to get clearance from customs for their import-export products at ports.
Prokash Dewan said there will be no mandatory provision for business houses to be in the list of AEO. This facility will brand the houses which will be on the list of AEO, he added.
“The AEO reflects that they are doing business maintaining rules and procedures . . . these companies are not dodging duties-taxes that will boost their image at home and abroad,” said Prokash Dewan.
