New SRO issued on import under diplomatic bonded warehouse
Tuesday, 13 November 2007
FE Report
The National Board of Revenue (NBR) has taken a move to facilitate import under diplomatic bonded warehouse by relaxing a Statutory Regulatory Order (SRO) issued in July last.
The board Monday issued a fresh SRO that calls for putting stickers only on master carton of each liquor and cigarette. The previous SRO asked the importers to put such stickers 'BANGLADESH, DUTY NOT PAID' on each liquor bottle and cigarette packet.
In the new SRO, the NBR said: "After import of liquor and cigarette, the bonder will have to fix a non-removable sticker on each bottle and packet."
The bonder will have to bear all expenditure relating to printing and fixing the stickers, it noted.
The importers will not be allowed to release such products if such marks are not available on the packets, the SRO said.
The government has issued the order to discourage traders to sell items imported under the diplomatic bonded facility in local market.
But, importers of such products had been facing problems as suppliers did not agree to stick such label before export due to procedural complexities.
The board has relaxed its order following significant reduction of import of such products for diplomats after issuance of the order on July 1, sources concerned said.
As per the existing rules, the government is bound to provide the required facility to the diplomats.
The National Board of Revenue (NBR) has taken a move to facilitate import under diplomatic bonded warehouse by relaxing a Statutory Regulatory Order (SRO) issued in July last.
The board Monday issued a fresh SRO that calls for putting stickers only on master carton of each liquor and cigarette. The previous SRO asked the importers to put such stickers 'BANGLADESH, DUTY NOT PAID' on each liquor bottle and cigarette packet.
In the new SRO, the NBR said: "After import of liquor and cigarette, the bonder will have to fix a non-removable sticker on each bottle and packet."
The bonder will have to bear all expenditure relating to printing and fixing the stickers, it noted.
The importers will not be allowed to release such products if such marks are not available on the packets, the SRO said.
The government has issued the order to discourage traders to sell items imported under the diplomatic bonded facility in local market.
But, importers of such products had been facing problems as suppliers did not agree to stick such label before export due to procedural complexities.
The board has relaxed its order following significant reduction of import of such products for diplomats after issuance of the order on July 1, sources concerned said.
As per the existing rules, the government is bound to provide the required facility to the diplomats.