Dhaka: In a strategic move to boost the country’s export trade, the National Board of Revenue (NBR) has issued a notification allowing partially exporting industrial enterprises to import raw materials without the burden of duties. This policy change, aimed at facilitating export-oriented businesses, was announced on September 25.
According to Bangladesh Sangbad Sangstha, the notification permits those export-oriented industrial enterprises, which are currently unable to obtain bonded warehouse licenses under the existing bond management system, to import raw materials or products duty-free. However, these enterprises must provide a bank guarantee equivalent to the assessed duties and taxes on the imported goods as determined by Customs authorities.
The NBR anticipates that this initiative will lead to optimal utilization of production capacities within exporting enterprises, promote the diversification of exportable products, and contribute to the overall expansion of the country’s export trade.