Customs enforcement authorities in Bangladesh now have the authority to assess the actual value of goods even after the clearance of imports and exports at the port, according to new guidelines aimed at preventing revenue leakage.
However, businesses are expressing concerns that this approach may further slow down the production and trade processes, potentially reducing industrial throughput.
Bangladesh Customs has issued a manual that allows for auditing businesses based on over 200 criteria related to their import and export activities, even after the goods have been cleared at the port.
This manual marks the first of its kind and serves as a guide for customs officials to conduct post-clearance audits (PCA) in an effort to identify any duty and tax evasion without procedural gaps.
While the National Board of Revenue’s customs wing facilitates swift customs clearance for many goods and raw materials, several importers, including Authorized Economic Operators (AEO), transit, and transshipment importers, are subject to the PCA, as stipulated in the Customs Act of 1969.
The PCA manual, which was framed by senior customs officials and customs specialists from USAID, provides comprehensive instructions along with relevant forms and formats. It addresses a longstanding need for a guideline to assist customs officials in conducting post-clearance audits effectively.
