The Customs Bill 2023 was passed on Tuesday in the Jatiya Sangsad with the aim of promoting fiscal discipline and accountability in the collection of import revenue and facilitating trade, reports BSS.
Law Minister Anisul Huq, in absence of finance minister AHM Mustafa Kamal, moved the bill which was unanimously passed by voice votes with Speaker Dr Shirin Sharmin Chaudhury in the chair.
According to the objective of the bill, revenue collection at the import level of Bangladesh is being conducted under the Customs Act, 1969.
The salient features of the Customs Act, 2023 are - while the existing Customs Act, 1969 is framed in English, the proposed 'Customs Act, 2023' is framed in mother tongue Bengali.
The existing Customs Act, 1969 has a total of 223 sections. The proposed Customs Bill, 2023 has a total of 269 sections.
Various essential aspects of the Trade Facilitation Agreement approved under the leadership of the World Trade Organisation such as Advance Ruling, Stakeholder's Consultation, National Inquiry Point, Website, Advance Passenger Information/ Passenger Name Record etc have been included.
A number of other important matters have also been inserted in the new act.
If the proposed bill becomes a law, it is expected that fiscal discipline and accountability will be ensured along with import revenue collection and trade facilitation.
Customs Bill passed with aim of promoting fiscal discipline, facilitating trade
FE Team | Published: November 01, 2023 00:14:31
Customs Bill passed with aim of promoting fiscal discipline, facilitating trade
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