Industry

Export-import tax above Tk2 lakh can be paid online from July 1

The National Board of Revenue (NBR) will receive the tax of export-import oriented trade through e-payment system from July 1 this year if the amount is above Tk 2 lakh.

The organisation will put in place an automation system for ensuring transparency in the tax collection.

“Tax over Tk 2 lakh will be collected through electronic payment system from July 1. We’ll complete automation to ensure transparency in tax realisation,” NBR Chairman Abu Hena Md Rahmatul Muneem said at a programme at its office on Tuesday.

At the event, NBR awarded the World Customs Organization (WCO) Certificate of Merit marking the International Customs Day to three organisations and 17 officials for playing roles in the country’s import-export oriented trade and internal supply chain during the COVID-19 pandemic.

The three companies are Bangladesh Medical Association, Customs House, Chattogram and Customs House, Dhaka. On the other hand, seven persons died of COVID-19 among the 17 awardee officials of NBR and under its department.

“We’ll purchase 13 scanners to ensure transparency that will provide quick delivery in import-expert process,” the NBR chairman said.

He said that they need the cooperation of business organisations. The software has been prepared. The system will be compulsory at Dhaka Inland Container Depot (ICD) Customs House in Kamalapur from April 1.

Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President Sheikh Fazle Fahim urged the NBR to widen tax net instead of tax rate.

​​​​​​​ Finance Minister AHM Mustafa Kamal hoped that the revenue collection will go up gradually if business friendly policies are taken.

“Bangladesh recorded the highest GDP growth in the world in the last 10 years. NBR will succeed in revenue collection like previous years taking on challenges,” he said.

​​​​​​​ The minister said NBR has to fulfill the demand of businesses. So, they will meet NBR’s demand. The government will purchase 13 scanners to ensure transparency in import-export activities within a short time, he added.

Source: United News of Bangladesh