The Customs House, Chattogram (CHC) clocked 23.23 per cent higher year-on-year revenue growth in the just-concluded fiscal year, fetching home Tk 51,577 crore.
This was the first time the revenue generated by the customs house, a wing of the National Board of Revenue, shot past the Tk 50,000-crore mark.
The record earnings were the result of strengthening of surveillance to prevent irregularities and the amendment of the Customs Act-1969 in June 2020 that allowed the authorities to fix a minimum fine for the false declaration of imported goods.
Revenue receipts stood at Tk 41,854 crore in the fiscal year of 2019-20.
A total of 9.71 crore tonnes of goods worth Tk 331,039 crore were imported in FY21, up from 8.29 crore tonnes valued at Tk 293,773 crore in FY20, data from the customs house showed.
Tk 16,256 crore of revenue was generated through the imports of 10 products, including high-speed diesel, furnace oil, liquefied natural gas, cement clinkers, palm oil, broken or crushed stone, crude oil, apple, petroleum oils, and polyvinyl chloride.
They together accounted for Tk 11,260 crore in revenue in FY20. About 5,130 types of goods are usually brought in though Chattogram Port.
Customs officials said the imports of the items went up riding on the increased demand in the energy, power and construction sectors. They topped the list of the imported goods in the past decade.
Other top revenue-generating products were oranges, cars, car parts, finished ceramics, betel nuts, milk powder, scrap ships, and electronics items.
CHC Commissioner M Fakhrul Alam attributed the higher revenue generation to the prevention of false declarations and ensuring of good governance.
“We have strengthened the surveillance to stop irregularities during imports. Emphasis has also been laid on determining the tariffs based on the actual prices of goods.”
The customs house tried to make the assessment and clearance quicker to facilitate trade throughout the year, he said.
“We were not closed for a single hour during the pandemic. We have been providing the service round-the-clock.”
The revenue collection also rose due to the speedy auction process, collection of arrears, and disposal of cases, Alam said.
“These initiatives have cut the tendency among the dishonest traders to commit irregularities.”
Customs officials said that the doubling of fines after the detection of irregularities increased the tendency among the traders to declare the names of the accurate products and prices.
On June 2020, the NBR fixed a minimum fine for false declaration which is twice the amount of revenue dodged. Earlier, there was no minimum fine.
Mahbubul Alam, president of the Chattogram Chamber of Commerce and Industry, credited the nonstop service provided by the customs house during the pandemic for the higher revenue generation.
Source : The Daily Star
