DHAKA, Jan 25, 2024 (BSS) - National Board of Revenue (NBR) Chairman Abu Hena Md Rahmatul Muneem today said that the NBR has been working to cut duty on import of essential items to keep their prices stable during the ensuing Holy Month of Ramadan.

"We've already received some proposals to reduce duty on some essential items to keep their prices stable during the Ramadan. We're working on it. Hopefully the price will reduce at consumer level if the duty is reduced," he added.

The NBR chairman said this while addressing a press conference at the NBR Bhaban in the capital's Agargaon area convened on the eve of the International Customs Day 2024 to be observed tomorrow.

The revenue board is working to reduce duty on some essential items following a recent letter received from the Ministry of Commerce to cut duty on some items like edible oil, sugar, dates.

Referring to the issue of wholesale reorganization of the Chattogram Customs House, Muneem said that the entire process has been developed there starting from unloading of goods. Side by side, the infrastructures are being developed there to enhance the capacity of the Customs House while a proposal has been made to increase the manpower.

Asked whether it would be possible to comply with the suggestions of the IMF in revenue collection, Muneem said it is really a challenge to mobilize revenues in line with the target suggested by the IMF.

"For this we've undertaken various plans. Special plans have been taken in income tax, customs and VAT to meet the revenue collection target.
 
We've taken this as a challenge and hopefully this will be fulfilled," he added.

Answering to a question, NBR member Masud Sadique said that a total of 15 firms have so far been given permission as Authorized Economic Operators (AEOs).

The NBR chairman informed that out of the total revenues of Taka 1,65,599.75 crore collected from July-December period of FY24, Taka 49,068.53 crore were collected from customs.

The International Customs Day 2024 will be observed in the country tomorrow as elsewhere in the world with the theme "Customs Engaging Traditional and New Partners with Purpose".