The National Board of Revenue is going to provide exemption to the export-oriented industries, mainly readymade garment sector, from double audit done by two separate commissionerates of the revenue board. The NBR has decided to scrap a provision of the Customs Act-1969 in the budget for the next fiscal year in this connection to make export activities more smooth and easy, officials said.
Usually, Customs Bond Commissionerate of the NBR audits the export-oriented industries to ensure export of products manufactured by raw materials imported duty-free under bonded warehouse facility.
In the budget for FY 2013-14, the revenue board also empowered the Customs Valuation and Internal Audit Commissionerate for conducting audit of the bonded warehouses.
The provision created huge outcry among the export oriented industries. mainly apparel sector, and demanded to scrap the provision as exporters were facing severe difficulties due to double audits.
In separate application to the NBR, Bangladesh Garment Manufacturers and Exporters Association, Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association and some other export oriented organisations said that conducting audit twice for same warehouse for same purpose created complexities in their export-import activities.
It also creates disruption in their daily activities along with harassment by the customs officials, they claimed.
Considering the rational of the demand of the exporters, the NBR has decided to scrap the provision in the next budget under which Customs Valuation and Internal Audit Commissionerate can conduct audits of bonded warehouses, a customs official told New Age on Thursday.
Customs Bond Commissionerate will conduct audits of the bonded warehouses from next year, he said.
In the audit process, the customs
officials check whether a manufacturer has exported products produced by using raw materials imported duty-free under warehouse facility, was there 10 per cent value-addition in export and the export earnings from the products have been remitted to the country.
-With New Age input
