Finance Minister Abul Hassan Mahmood Ali has directed the National Board of Revenue (NBR) to provide incentives to honest businessmen and take stricter measures against dishonest ones.
Referring to one of the responsibilities of the customs department to prevent money laundering, the minister on Friday also said that it is very important to increase the capacity of customs to fulfil this responsibility.
He made the remarks while speaking at a seminar, marking International Customs Day 2024, organised by NBR at the Multipurpose Hall of its head office in Agargaon, Dhaka.
The finance minister emphasised a fully automated customs process to reduce the cost and time of doing business, and said, "Without making trade easier, it is not possible to reduce the cost and time of doing business."
He said, “Although Bangladesh has progressed in many economic indicators, we still cannot increase our Tax-to-GDP ratio at a satisfactory level.”
He hoped that the ratio would increase at a satisfactory level banking on the relentless efforts of the NBR, adding that the board is working as the main driving force of the country’s economic progress by attracting foreign investment and protecting local industries.
Mahmood Ali expressed hope that customs will pay special attention to this end as well.
Internal Resources Davison Senior Secretary and NBR Chairman Abu Hena Md Rahmatul Muneem presided over the seminar while NBR Member Masud Sadiq presented the keynote. Finance Division Secretary Md Khairuzzaman Mozumder, among others, spoke on the occasion.
Addressing the event, Incepta Pharmaceuticals Limited Managing Director Abdul Muktadir urged the NBR to use efficient automation.
"Seven years ago, my company was approved as an Authorised Economic Operator (AEO), but it is yet to be implemented," he stated.
At the event, 17 officials and organisations, including the World Bank Dhaka Office, the agriculture ministry and the National Telecommunication Monitoring Centre, were awarded WCO Certificate of Merit for their contribution to customs.
The government has taken effective digitalisation and automation measures in a bid to reduce hassle and delay in export and import activities, but “Smart Customs,” which is crucial for vibrant international trade, curbing money laundering and cutting tax evasion, is still far away.
Customs is plagued with allegations of bribery, inefficiency, hassle, and harassment, brought forth by the export and import-oriented businesses, which in turn has been pushing up the cost and difficulty of doing business in Bangladesh, amid a persistent global economic crisis.
Amid this backdrop, the customs wing, under the National Board of Revenue (NBR), marked the International Customs Day 2024 on Friday. The World Customs Organization (WCO) has dedicated 2024 to “Customs Engaging Traditional and New Partners with Purpose.”
