The customs authority is set to allow entire premises of the manufacturing units, having bonded warehouse licence, (to be considered) as bonded area to facilitate exporters and manufacturers.
It would also provide import entitlement to the export-oriented manufacturers, having bonded lincence, without bank guarantee.
However, the facility would be valid for the period when licence renewal and audit activities would be carried on.
Import entitlement is the volume of raw materials, approved by the bond commissionerates against the annual production capacity of a bond lincence holder.
In an office order on Tuesday, the Customs Wing of the National Board of Revenue (NBR) instructed its field-level officials to implement these two decisions.
The decisions were taken following a meeting of the NBR with the Bangladesh Garment Accessories and Packaging Manufacturers and Exporters Association on June 13, officials said.
The decisions would expedite export of finished goods, increase cash flow of manufacturers, and facilitate ease of doing business, they noted.
Currently, preventive teams of the customs bond comissionerates consider the imported raw materials,
which they found only in the bonded warehouses during inspections, eligible for the duty-free facility.
Officials said the team members often found mismatch between their findings and actual volume of raw materials of manufacturers, as many of the exporters were compelled to place imported raw materials outside their warehouses due to space shortage or for working process on their premises.
Disputes surfaced between customs authority and exporters or manufacturers due to the miscalculation of raw materials, the officials added.
However, as per order, the licence holders would not be able to store raw materials beyond their single bonding capacity.
Bond licence holders would also get import entitlement without bank guarantee during the process of licence renewal and audit activities, if the bonders need raw materials.
Customs bond commissionerates of the NBR used to keep approving import entitlement of raw materials during the process.
However, importers would have to deduct the approved entitlement from their future import entitlement of raw materials, the order said.
They would also provide bank guarantee, if they have any undisputed dues and demand of revenue.
Currently, importers are required to provide bank guarantee in these cases.
According to the order, customs bond officials would have to solve all issues of businesses through a single file instead of creating separate files for separate issues.
The export-oriented manufacturers enjoy bonded warehouse facility to import raw materials without paying duties and taxes with the condition of producing finished products using the raw materials and exporting those finished products.
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