Bangladesh takes steps for pre-arrival processing for faster imports
04 Apr 24 1 min read
Insights
- A gazette notification by Bangladesh's National Board of Revenue said imports have to be declared well in advance of the previous deadline for notifying of their arrival to reduce false declarations and enable quick releases.
- The decision will help importers receive clearance for general category products by paying customs duty before these enter the country
The decision will help importers receive clearance for products of the general category, excluding those requiring further clearance or high value-added tax payments, by paying customs duty before the goods enter the country.
Earlier, the import general manifest (IGM), a document containing detailed information about the cargo being carried on a vessel or an aircraft, had to be submitted 24 hours prior to its arrival into the country.
But according to the Pre-Arrival Processing Rules-2024 for Imported Goods issued on March 24, the IGM has to be submitted 24 hours prior to the vessel departing the last port for Bangladesh.
- Malaysia keen on FTA partnership with Bangladesh: Reports
- Surge in Bangladesh freight rates again: Reports
- Inflation in Bangladesh rises to 9.89% in May from 9.74% in April
- Bangladesh receives $3.004 bn in FDI in 2023, a decrease of 14% YoY
- April import LC openings in Bangladesh down 7% MoM, up 20% YoY
Any amendment can be made by the importer or shipping agent within 24 hours of filing the IGM, domestic media outlets reported.
Fibre2Fashion News Desk (DS)
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