Bangladesh has decided to reduce service charge for the registered exporters system of the European Union (EU), as per media reports.
It may be mentioned here that Bangladesh in July 2019 introduced a registered exporter system – under the system, Bangladeshi exporters would self-certify the country of origin to avail the Generalised System of Preference (GSP) facility on the EU market – as per instruction from the EU for shipment of goods to the EU.
Accordingly, Bangladesh also gave registration numbers to 10 exporters.
Before the REX system came into effect, a service charge of Taka 375 against each consignment of export goods was set by the Commerce Ministry.
As per reports, the garment manufacturers did not pay the charges, terming it ‘illogical’.
Following the stand taken by the apparel exporters, the Export Promotion Bureau (EPB) in its 140th board meeting held recently reduced the rate of service charges for verification of documents under the REX to Taka 250 from Taka 375 against each consignment (of goods) meant for export to the EU market.
The EPB had also issued a circular in this direction on 16 November and also asked exporters to pay Taka 250, which included 10 per cent income tax or Taka 20 and 15 per cent VAT or Taka 30 on the service charge.