The customs issues a fresh set of rules for a resend of machinery on temporary importation, after 38 years, to facilitate carefree implementation of megaprojects.
Implementing authorities of different projects would be able to use duty-free machinery, equipment and spare parts for multiple projects under the simplified rules from now on.
The new dos replace the previous rules issued on December 10, 1984.
The time for refunding or sending back the temporarily imported machinery could be extended upon approval by the field-level customs authorities showing valid reasons as per new rules.
The customs wing under the National Board of Revenue (NBR) issued the 'Temporary import rules for refund of product-machinery, spare parts, and equipment 2022' recently, signed by Dr Md Neyamul Islam, first secretary (customs exemption and project facility).
Dr Islam says the new set of rules has been prepared after detailed discussion with the project directors of the megaprojects, including Padma Bridge.
Under the previous rules, importers of the machinery for the projects would need to take approval from the NBR every six months on refunding the temporarily imported machinery, he says.
"Each of the megaprojects is not below five years' tenure and they would not require coming for approval to NBR for at least one and a half years on resending the machinery," he adds.
The project-implementation entities would be able to complete all procedures from customs port under the new policy, he says.
Another first secretary of the customs wing, Md Khairul Kabir Mia, said the age-old rules have been simplified as nature of projects and machinery has changed.
"We felt the necessity to issue the new rule as a number of megaprojects are under implementation stage in Bangladesh now," he adds.
Project-implementation entities import machinery for a project and after expiry its tenure or using the machinery for a year, the machinery could be used for another project under the rule.
However, approval of customs commissioner and other procedures as stated in the rule have to be followed, he adds.
However, the new rule would not be applicable to machinery, spare parts, equipment imported by diplomats and privileged persons (customs procedure) rules 2003, rules 2, clause 9 (d), defined as privilege persons, consumable products and some other machinery defined in the rules.
Customs will conduct physical examination of the temporarily imported products.
Importer will have to give an undertaking on non-judicial stamp that the imported machinery would not be used for other purposes or other projects or transferred to other individuals or companies.
However, the machinery could be used in other projects or purposes with the consent of the relevant project directors and NBR member (customs) by amending bank guarantee and completing fresh procedures, the rule says.
The importers would have to give unconditional bank guarantee equivalent to the applicable duty-taxes of the imported machinery, spare parts and equipment.
Customs commissioners will be able to allow maximum one year for refunding the temporarily imported machinery. However, they will be able to extend the time for six more months upon written application from importer.
In case of failure in sending back such imported machinery without valid reasons, the importer will have to pay the duty-taxes applicable to the machinery import.
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