Tk77,616cr revenue target set for Chattogram Custom House in 24FY
The revenue target assigned to the Chattogram Custom House alone comprises about 66.86% of the total revenue target given to all 17 customs stations combined.
The National Board of Revenue (NBR) has set a revenue target of Tk77,616 crore for the Chattogram Custom House, the largest customs station in the country, in the 2023-24 fiscal year. This amount represents around 10% of the total national budget for this fiscal year.
On 15 July, the NBR issued a notification outlining the revenue targets for six custom houses including Chattogram, two bond commissionerates, and nine customs, excise, and VAT commissionerates across the country. The combined revenue target for these entities exceeds Tk1.16 lakh crore.
The revenue target assigned to the Chattogram Custom House alone comprises about 66.86% of the total revenue target given to all 17 customs stations combined.
Keep updated, follow The Business Standard's Google news channel
The national budget for the current fiscal year stands at around Tk7.62 lakh crore.
Barrister Badruzzaman Munshi, deputy commissioner and spokesperson of the Chattogram Custom House, told The Business Standard that if the revenue collection in the last quarter of the last financial year is continued in the current financial year, the custom house will be able to meet its revenue target.
He also said that the custom house will hire new manpower and increase its activities to prevent customs evasion.
He further stated that the custom house will also take the initiative to solve ongoing cases of customs arrears due to various legal complications, including lawsuits and temporary taxation.
The Chattogram Custom House missed its revenue target for the 2022-23 FY by 17.17%. The target was Tk74,206 crore, but only Tk61,464.72 crore was collected.
Out of the target of Tk77,616 crore given to the Chattogram Custom House, Tk29,931 crore was for import duty, Tk64 crore for export duty, Tk38,478 crore for VAT (import stage), and Tk9,143 crore for supplementary duty (import stage).
The Chattogram Custom House accounts for 92% of all goods imported and exported in Bangladesh.
According to the National Board of Revenue data, among the custom stations the Benapole Custom House has been given a revenue target of Tk6,238 crore, the Dhaka Customs House Tk7,282 crore, Kamalapur ICD Custom House Tk5,355 crore, Mongla Custom House Tk5,962 crore, Pangao Custom House Tk1,387 crore, Customs Bond Commissionerate Dhaka Tk6,894 crore and Custom Bond Commissionerate Chattogram Tk1,206 crore.
