The National Board of Revenue (NBR) is set to introduce a system enabling exporters without bond licenses to import raw materials duty-free, NBR Chairman Md. Abdur Rahman Khan announced on Wednesday.
Speaking at the first “Meet the Business” dialogue in Dhaka, he said the initiative aims to ease the pressure on exporters who currently face restrictions under the traditional bond system. “We have already started the process. Exporters without bond licenses will be allowed to import raw materials without paying duty, provided they secure a guarantee from a bank ensuring that the imported inputs are used only for exports,” he explained.
The chairman added that the policy has been forwarded to the legislative division for final approval and is expected to be cleared within a week.
Currently, under the bond facility, export-oriented enterprises can import raw materials and accessories duty-free, which are stored in bonded warehouses. However, if such imports are diverted to the local market, firms must pay the applicable duties.
Abdur Rahman Khan also revealed that the NBR will soon initiate bond audits to strengthen oversight, while exploring automation to enable risk-based auditing. “The main goal is to ensure compliant taxpayers do not face unnecessary trouble,” he said.
He further noted that corporate tax filing will move fully online from next year, as part of the revenue authority’s digitization drive.
Addressing the issue of widespread tax exemptions, the NBR chief emphasised that the practice will be curtailed in the future. “The NBR no longer has the power to grant exemptions; only parliament can approve them. Exemptions will be allowed solely when necessary at the policy level,” he stressed.
Calling for an end to harassment by revenue officials, Khan said taxpayers must feel confident that their contributions are being used for the country’s welfare, which in turn will encourage greater compliance.
