Missing

Import these products without tariffs and taxes

Bangladesh eliminated MFN customs duties and other taxes for 30 products (HS-8 digit) under 14 headings which includes applied tariffs (CD), regulatory duty (RD), supplementary duty (SD), value added tax (VAT), advanced tax (AT) and advanced income tax (AIT). This is to tackle the health emergency caused by the COVID-19 pandemic and to protect human life and health.

The reduction was adopted on a provincial basis and will be in place until September 30, 2020.

However, the scheme is valid under six conditions:

  1. For importation of the products stated in Table-1, an importer must be an industrial IRC holder pharmaceutical industry or an industrial Import Registration Certificate (IRC) holding medical instruments manufacturer.
  2. For importation of the products stated in Table-2, an importer must be an industrial IRC holder garments manufacturer or an industrial Import Registration Certificate (IRC) holder textile industry.
  3. For the importation of any products stated in Table-1, Table-2, and Table-3, the quantity of the import should be fixed/ determined by the Directorate of Drug Administration of Bangladesh.
  4. In the case of importation of the products stated in Table-2 by the industrial Import Registration Certificate (IRC) holding garments manufacturer, a certificate should be collected/ obtained from the Bangladesh Garments Manufacturers & Exporters Association (BGMEA) and in the case of industrial IRC holder textile industry, a certificate should be collected/ obtained from the Bangladesh Textile Mills Association (BTMA) and that certificate should be produced before the concerned customs house/ station during the fixation of tariff.
  5. The Department of Drug Administration shall ensure the quality of the imported products and will regularly monitor the products.
  6. After the expiration of this SRO, the Department of Drug Administration shall submit a report on the quantity of the imported products under duty free facilities to Customs (Policy) section of the National Board of Revenue (NBR) stating the name of every importer and its approved quantity.

The list of products

Photo Courtesy: Tom Fisk

Merchant Bay Newsroom

A Merchant Bay Report