E-payment of import duty is being made mandatory today
Bangladesh Business Finance Latest

E-payment of import duty is being made mandatory today

The e-payment system is being launched in full swing at Chittagong Custom House, the country’s largest customs station, from today (July 1). The National Board of Revenue has made e-payment mandatory for paying duty of more than TK 2 lakh against import-export goods.

In the e-payment system, importers can use the internet and pay the duty at home through the RTGS (Real Time Gross Settlement) gateway with the user ID.

In this regard, an official of the NBR said, if the system of payment of duty and tax is introduced in the automatic system, the time of unloading of goods at the port will be greatly reduced. This will make the tariff process easier, which will improve Bangladesh’s position in the World Bank’s easy-to-trade index.

In the e-payment system, payments can be made directly from the bank account of the importer or C&F agent through Shonali Bank to the government treasury through Bangladesh Bank.

With the introduction of this system, all the immoral activities in the country’s import trade will be stopped, including fraud, tax evasion, collection of extra money from C&F agents for imposing false information on importers, collection of customs on import documents and money from bank officials.

According to the guidelines of the National Board of Revenue, in the first six months of the 2021-22 financial year, if a tax of more than two lakh rupees is levied against a bill of entry, a compulsory e-payment has to be made. E-payment has been made mandatory for all importers from January 2022.

Importers and C&F agent owners said, the e-payment system would also reduce the amount of unnecessary harassment of customs officials. At different times, the concerned officials used to collect money against the bill of entry by creating various complications.

This service was launched at Chittagong Custom House from February 2018. In the first two years after the introduction of e-payment system, only 163 companies paid fees in this process. But now e-payment has been made mandatory for all importers at all custom houses and customs stations in the country.

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