Businesses forced to pay huge bribes to clear goods from ports: BTMA chief
Rasel pointed out that previously, these release certificates were issued by the association itself, but the responsibility was later handed over to customs
Businesses are being compelled to pay huge sums of money in bribes for the release of bank guarantees used to clear goods at ports, though the payable tax is much lower, Bangladesh Textile Mills Association (BTMA) President Mohammad Shawkot Aziz Rasel has alleged.
"Businesses submit bank guarantees to clear goods through customs, but when it's time to release those guarantees, we are forced to pay Tk50,000 in bribes for each one. If we had paid the tax instead, it would've only been Tk30,000," he said during the consultative meeting between the National Board of Revenue (NBR) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), held today (30 April) at Hotel Sonargaon in the capital.
Rasel pointed out that previously, these release certificates were issued by the association itself, but the responsibility was later handed over to customs.
Keep updated, follow The Business Standard's Google news channel
"Now we are forced to pay bribes for something that used to be straightforward. The NBR doesn't gain anything from this change, but it creates serious problems for businesses," he added.
The BTMA president also highlighted the ongoing power and gas crises facing the industrial sector and urged the government to extend existing corporate tax facilities until 2028.
