NBR to sign convention

FE Report | Published: May 04, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

The revenue board has decided to sign an international convention to introduce ATA carnet system for temporary import of goods for different purposes including display and use for commercial reasons.
Conditions will be set by the authorities on re-export of the imported products to the country of origin within a stipulated time-frame.
Products and samples will be allowed for duty-free import for displaying in fairs, exhibitions or other events, short-time use for commercial purposes. Also, testing, checking, experimental and demonstration machinery, equipments, moulds will also be allowed under the system.
The Istanbul Convention on Temporary Admission is known as ATA carnet system. It is an internationally recognised method for expediting clearance to goods imported under the system without paying duties and taxes with a pledge to re-export those within a given time.
As per existing customs laws, the NBR allows import of such goods under a bank guarantee.
Officials said the ATA carnet system needs a trade body that would issue guarantee against such import.
There are differences of opinion between the International Chamber of Commerce, Bangladesh (ICC-B) and Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) over the issue, they said.
Officials said the customs wing is working on finalisation of list of products that would be allowed for temporary import under the convention. It already conducted a study on the list of products of India, Pakistan, Sri Lanka and Malaysia.
Customs officials said some commercial and export-oriented sectors need the temporary import of goods, machinery and equipments for different purposes including trade fairs and other events.
In 2000, a cabinet meeting took the decision on signing the convention allowing 'sample advertising film'. Later in 2013, the revenue board examined the scope of allowing temporary admission for other products in line with the Istanbul Convention, following instruction of the finance minister.
Officials said, the revenue board will hold a meeting soon with stakeholders including related ministries, trade bodies and trade associations to select the carnet issuing and guaranteeing authority and also to finalise the list of products.
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