NBR moves to bring transparency in tariff assessment on imports

The National Board of Revenue (NBR) has taken the initiative to bring transparency in the assessment of tariff on imported goods.

As part of the move, the revenue authority has established connections with the Bangladesh Bank’s Foreign Exchange Transaction Monitoring System (FxTMS) and its ASYCUDA World system, an automated system for modernised customs procedures, to exchange information on commercial invoices.

It has also started piloting the exchange of information, said the NBR in a statement issued today to share the reform measures taken during the tenure of the interim government, which was sworn in on August 8, 2024, after the fall of the Sheikh Hasina government in a mass uprising.

Major steps were taken under the interim government to reform revenue management, trade facilitation, digitalisation, and expand and make the tax system transparent, modern, and accountable, the NBR said.

The revenue authority also cited the issuance of the ‘Revenue Policy and Revenue Management Ordinance, 2025’ to separate revenue policy formulation and revenue management activities. 

Recently, the government approved the Rules of Business and Allocation of Business to establish the Revenue Policy Department and the Revenue Management Department.

A 10-year Medium- and Long-Term Revenue Strategy (MLTRS) was adopted as part of the NBR’s long-term planning to boost revenue collection, strengthen structural capacity, and increase the country’s revenue-to-GDP ratio.

It has also launched the Strengthening Domestic Revenue Mobilization Project (SDRMP) with support from the World Bank. The project, involving nearly Tk 1,000 crore in investment, seeks to bring the board’s entire operations onto a digital platform, reducing reliance on paper-based processes and improving transparency.

To gradually move away from a culture of tax exemptions, the government has formulated the Tax Expenditure Policy and Management Framework (TEPMF) and published it in the official gazette.

By amending the Income Tax, Customs Act, Value Added Tax, and Supplementary Duty Act, the NBR has withdrawn the power to grant tax exemptions. From now on, no tax exemptions can be granted without the approval of the parliament, said the NBR.