Bangladesh will let export-focused factories import materials without paying duties by posting bank guarantees instead of obtaining bonded warehouse licenses. The National Board of Revenue announced the policy shift Sept. 25 to help manufacturers who struggle with licensing requirements. Companies must provide guarantees matching the value of customs duties on imported supplies while following other warehouse regulations.
Officials said the change helps small and medium businesses avoid complicated and expensive licensing procedures. The board expects expanded production capacity and greater product variety in overseas markets. Enterprises can access tax-free raw materials by meeting specific conditions and submitting financial security equal to import levies.
Officials said the change helps small and medium businesses avoid complicated and expensive licensing procedures. The board expects expanded production capacity and greater product variety in overseas markets. Enterprises can access tax-free raw materials by meeting specific conditions and submitting financial security equal to import levies.
