The National Board of Revenue is going to modernise all customs houses across the country to facilitate a smoother, more efficient trading process to help the economy bounce back faster once the virus outbreak is gone.
As part of its move, the apex tax body has undertaken a project in collaboration with the International Finance Corporation (IFC) and the World Bank Group with a goal to increase the Customs capacity, according to the NBR sources.
Under this project, the capacity of the largest customs house in Chittagong, the largest land port Benapole’s customs house will be increased.
Besides, more infrastructure will be built at the Customs Excise and VAT Training Academy in Chattogram.
Sources at the NBR said, a six-strong committee headed by NBR Director General (Research and Statistics) Md Anwar Hossain, has been formed to prepare the development project proposal (DDP) for the project.
The other committee members are director of VAT Training Academy AKM Mahbubur Rahman, NBR National Single Window Project Sub-Project Director Dr Nahida Faridi, first secretary of the NBR Abu Noor Rashed Ahmed, Joint Commissioner of Benapole’s Custom House (Ch. Da) Mohammad Shahidul Islam, Second Secretary of NBR Rakibul Hasan, Deputy Commissioner of Dhaka Custom House Md Sanwarul Kabir, and Assistant Commissioner of Chittagong Custom House Noor A Hasna Sanjida Anusuya.
If it is required the committee can include more members and seek assistance from world Bank’s experts to prepare the DPP before submitting it to the NBR.
The DPP will be prepared in line with the Public Procurement Act.
Meanwhile, the government has set Tk 378,000 crore revenue collection target in the proposed budget for 2020-21 fiscal with the NBR being asked to realise Tk 3,30,000 crore.
Of the NBR’s portion, Tk 103,945 crore will come from income, profit and capital tax, while Tk 125,162 crore from VAT, Tk 57,815 crore from supplementary tax, Tk 37,807 crore from import duty, Tk 55 crore from export duty, Tk 3,686 crore from the excise duty and Tk 1,530 crore will be realized from other taxes.
The revenue from non-NBR sources was estimated at Tk 15,000 crore, while non-tax revenue at Tk 33,000 crore.