The Customs Wing of Bangladesh’s National Board of Revenue (NBR) has allowed fully export-oriented leather and footwear exporters to enjoy bonded-warehouse facility for multiple production units under a company, obtaining one bond licence.
According to reports, NBR’s Customs Wing, in a circular issued recently, reportedly, amended the existing continuation or extension bond order, issued on 10 July 2008, even as customs officials have, reportedly, stated production units, owned by a company or under single ownership but located in different areas, would be considered as parts of the main entity that obtained a bonded-warehouse licence and, these units will be considered eligible for enjoying existing bond facility of the main company as its extension.
Meanwhile, talking to the media, Second Secretary of the Customs Export and Bond Wing, Md. Moshiur Rahman Mondal, reportedly, maintained the facility has been offered with an objective to facilitate export diversification even as according to other concerned officials, the circular has been issued following demands of the Bangladesh Tannery Association (BTA) and the Leathergoods and Footwear Manufacturers and Exporters Association of Bangladesh (LFMEAB).
