Gold trader to get bond facilities

National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan Sunday said the government will give bond facilities to the gold traders if they import gold as raw material for exporting.

“We want to diversify our export. So, we will give bond facilities to gold importer, if they import it as raw material for exporting,” he said while inaugurating the three-day “Gold Tax Fair” at the InterContinental Hotel in the city.

NBR and Bangladesh Jewelers Samity (BAJUS) are jointly organising the fair, BSS reports.

NBR Member (Income Tax Policy) Kanon Kumar Roy presided over the function while BAJUS President Ganga Charan Malakar and Secretary General Dilip Kumar Agarwala, among others, delivered speeches.

Mosharraf said the imported gold under the bond facilities cannot be sold in the open market. “The trader, who will import gold by taking the bond facilities, will have to export the whole gold. We will maintain the account of export and import of gold under the bond facilities,” he added.

He informed that the government will not give bond facilities to import ornaments as it is finished product.

Mentioning the gold policy as business-friendly, Mosharraf said, the government is committed to develop the country’s gold industry.

He urged the gold traders to run their business by maintaining the rules and regulations of the gold policy.

Regarding the gold fair, the NBR chief said, NBR is organising the fair to remove panic about tax among the general businessmen.

“There is a panic among the businessmen regarding payment of tax. We want to remove the panic,” he added.