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Customs and Tariff Structure in Bangladesh 0 replies,3042 views

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First, Bangladesh has no independent authority of the General Administration of Customs, but the IRS set up in Bangladesh Ministry of Finance is responsible for customs matters of Customs and Excise (COMMISSIONER OF CUSTOMS) and other officials, and in the Jeddah port and other ports with Dhaka Customs agencies. In addition, business men in Bangladesh has export and import control authorities (IMPORT EXPORT CONTROL AUTHORITY), responsible for the import and export license certificate (PERMITS) and import and export registration certificate (IMPORT REGISTRATION CERTIFICATE, IRC) of the award. License certificate refers to the specific circumstances of the import and export licensing, including the import licensing certificates, permits clearance certificates, export permits and re-export license certificate and other certificates. Second, the tariff structure 1, Overview Currently, the tariff is the import and export trade of Bangladesh's main tool for regulation is the main source of revenue. Bangladesh tariff points 4 grades, namely 7.5%, 15%, 22.5% and 32.5%. Another part of the goods can be imported free of duty, such as raw cotton, textile machinery, certain irrigation and agricultural machinery, poultry and dairy manufacturing animal feed and use of certain drugs and medical equipment. According to the Customs Tariff Bangladesh, Bangladesh on the local shortage of resources or low tariffs on machinery and equipment, competitive imports of apparel and consumer goods such as textiles, especially the implementation of higher tariffs on luxury goods. According to WTO data, Menghai tariff is the tariff of nearly 25% of the taxes (mainly manufactured goods) face the highest tariff rates. Bangladesh to develop the basic tariff rate by increased imports and increased processing depth, which reflects the phenomenon of tariff escalation. The general tariff escalation as follows: the basic raw materials 7.5% 15% rough intermediate raw materials and intermediate products, semi-finished manufactured goods 32.5% 2 22.5%, the additional tax imported products wishing to enter the Bangladeshi market, the importer in addition to the basic pay customs tariff (customs duty, CD), but also a variety of complicated under the circumstances required to pay import taxes, mainly the following: (1) infrastructure construction costs (infrastructure development surcharge, IDSC) 2.5% addition to the leather, cotton, synthetic fibers, and computer software and hardware products, Bangladesh imported goods levied on almost all infrastructure construction costs. (2) VAT (value added tax, VAT) 15%, unless otherwise exempted from the provisions of all imported and domestic products are levied 15% VAT. (3) withholding income tax (advance income tax, AIT) 3% (4) added tax (supplementary duty, SD) 10% -60% against the Bangladesh customs on certain luxury goods and products such as tobacco, alcohol, certain cosmetics, ceramic tile, large engine cars, air conditioners, refrigerators and TV and other imported products be levied additional tax. Bangladesh budget for fiscal year 2003, the rate and grade of -270% from 2.5% to a total of 31 files adjusted to 10%, 20%, 30%, 50%, 60% of the total of 5 files. But for tobacco, alcohol and still maintain high second driven tricycles supplementary taxes, such as tobacco, alcohol and supplementary tax of up to 350%, the highest grade of 270% more than the original but also much higher. (5) import regulation tax (regulatory duty, RD), such as **** reserves needed pressure, etc., Bangladesh is also often some of the imported goods imposed temporary import regulation tax. Transfer: China Import and Export Network
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