This new law will replace the existing Customs Act of 1969.
A new Customs Act 2023 will come into effect from June 6 this year aiming to enhance fiscal discipline, accountability in import revenue collection and trade facilitation.
The new law will replace an existing Customs Act, 1969.
The government issued a gazette in this regard recently, signed by Abu Hena Md Rahmatul Muneem, chairman of National Board of Revenue.
Several existing provisions have been revised and incorporated into the new law to hold customs agents, exporters, and importers more accountable, underlined media reports citing concerned NBR officials.
The Customs Bill of 2023 was introduced in parliament by law minister Anisul Huq on October 25 last year. Following its introduction, the bill was referred to a parliamentary standing committee for detailed scrutiny, with the committee tasked to report within seven days.
The bill was eventually passed by a voice vote.
Framed in Bangla, the new law includes up-to-date provisions on revenue collection to foster growth in import and export trade, facilitate business activities, and promote the development of new industrial sectors.
The previous law, written in English, incorporated international best practices related to customs as part of a broader reform and modernisation programme undertaken by the government and the NBR.
This reform aimed to promote international standards of customs management in international trade and import-export activities.
Fibre2Fashion News Desk (DR)