The Chairman of the National Board of Revenue (NBR), Abu Hena Rahmatul Muneem, recently criticised dishonest businesses for exploiting duty benefits, causing tax losses.
He addressed this issue during a pre-budget meeting with representatives from various business associations.
Muneem emphasised the careful consideration given by the NBR when providing duty benefits to industries even as he highlighted the importance of ensuring that imported chemicals, subjected to excessive duties, are utilised appropriately in production processes.
Textile manufacturers in Bangladesh have repeatedly been highlighting the issue of misuse of duty benefits by unscrupulous entities.
They previously appealed to the Prime Minister for intervention to curb the misuse and misdeclaration of duty-free benefits, especially concerning the import of yarn, fabric, and other materials.
Reports also indicate that local textile mills are grappling with challenges such as gas price hikes and the illegal importation of fabrics through misdeclaration and exploitation of bonded warehouse facilities.
