Bangladesh Bank relaxes import transaction rules

Bangladesh Bank (BB) on Tuesday waived the requirement of submission of bill of entry (B/E) in hard copy by the importers for bringing simplification in import transactions, reports BSS.

To bring simplification in import transactions, it has been decided that authorised dealers (ADs) may accept B/E accessible to them through the customs automated system to dispose IMP Form on completion of matching formalities,” as per a BB circular issued today.

In this case, the banks will have to ensure payment of duties and taxes against the imports.

The instructions will be applicable only for import through custom houses having automated system for issuance of bill of entry, the circular added.