Book on customs tariff published
Bangladesh Customs Tariff, a compilation of import and export duty and other rates of taxes, has been published for the sixth consecutive year to help businesses, particularly importers and exporters, take decisions on overseas trade.
The paperback records the rate of customs duty, supplementary duty, value added tax, advance income tax as well as regulatory duty separately applicable for every import item for fiscal 2018-19.
It also allows entrepreneurs, importers, exporters and other people engaged in overseas trade related activities to know the total tax incidence on an import item for the current fiscal. The book added a new list of items on which export duty has been slapped by the revenue authority.
“Inclusion of list of items that face export duty will be helpful for people who are interested to make exports,” said Mohammed Ruhul Amin, an official of the National Board of Revenue, who compiled the book published by Liton Publication.
The publication also provides interpretations on various import related notifications alongside naming goods that enjoy duty waiver.