- Importers in Bangladesh are now required to submit their purchase and sales records to customs every month.
- The National Board of Revenue issued a regulatory order to prevent irregularities.
- This move aims to reduce opportunities for concealing imported goods through unauthorized sales channels.
- The order aligns with VAT practices and aims to ensure accurate accounts and compliance among businesses.
- Some businesses have raised concerns about increased harassment and costs associated with regularly submitting records.
- The NBR order includes a provision for assessing imported goods in case electronic information is unavailable.
Source: tbsnews.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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