Freight forwarders seek amendment to licencing, operation rules
Thursday, 18 March 2010
FE Report
Bangladesh Freight Forwarders' Association (BFFA) has proposed that the government should amend the existing licencing and operation rules to ease their business activities.
It has proposed to bring necessary changes following the neighbouring countries for operating freight forwarding companies under joint venture or 100 per cent foreign ownership.
They have placed the proposals before the National Board of Revenue (NBR) recently for considering those in the next budget for fiscal 2010-2011.
For local freight forwarding companies, it has proposed to include saving certificates as a substitute for the existing bank deposit of Tk 0.3 million (3.0 lakh).
The freight forwarders have proposed to reduce licence renewal fee by 50 per cent and allow them to furnish bill of entry/bill of export to the customs authority for export and import.
The BFFA has also stressed the need for checking illegal freight forwarding business without licence. They sought exemption of Value Added Tax (VAT) and waiver of double taxation for share holders in private limited companies.
Leaders of the association has also requested the revenue board to install adequate scanning machine in Dhaka airport, offer bonded warehouse facility for them, expedite move to build deep sea port and four-lane highways for Dhaka-Chittagong road.
Meanwhile, Bangladesh Shipping Agents Association (BSAA) in a budget proposal has urged the government not to open the business for fully foreign companies without investment, new employment generation and technology transfer.
The association has also proposed to waive 15 per cent VAT on liner vessels to support local industries to survive. The shipping agents have proposed to withdraw 27.82 per cent tax for purchase of ocean going cargo vessels (feeders) under national flag.
Bangladesh Freight Forwarders' Association (BFFA) has proposed that the government should amend the existing licencing and operation rules to ease their business activities.
It has proposed to bring necessary changes following the neighbouring countries for operating freight forwarding companies under joint venture or 100 per cent foreign ownership.
They have placed the proposals before the National Board of Revenue (NBR) recently for considering those in the next budget for fiscal 2010-2011.
For local freight forwarding companies, it has proposed to include saving certificates as a substitute for the existing bank deposit of Tk 0.3 million (3.0 lakh).
The freight forwarders have proposed to reduce licence renewal fee by 50 per cent and allow them to furnish bill of entry/bill of export to the customs authority for export and import.
The BFFA has also stressed the need for checking illegal freight forwarding business without licence. They sought exemption of Value Added Tax (VAT) and waiver of double taxation for share holders in private limited companies.
Leaders of the association has also requested the revenue board to install adequate scanning machine in Dhaka airport, offer bonded warehouse facility for them, expedite move to build deep sea port and four-lane highways for Dhaka-Chittagong road.
Meanwhile, Bangladesh Shipping Agents Association (BSAA) in a budget proposal has urged the government not to open the business for fully foreign companies without investment, new employment generation and technology transfer.
The association has also proposed to waive 15 per cent VAT on liner vessels to support local industries to survive. The shipping agents have proposed to withdraw 27.82 per cent tax for purchase of ocean going cargo vessels (feeders) under national flag.