NBR cuts Benapole revenue target 6% amid trade slump

The National Board of Revenue (NBR) has set a 6 percent lower revenue collection target for Benapole Customs House for the current fiscal year due to a fall in trade with India through Bangladesh's largest land port.

However, this year’s target -- Tk 10,588 crore -- still seems high considering the previous year’s collection of only Tk 6,559 crore against a target of Tk 11,290 crore.

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Imports from India through the port fell by 6 percent year-on-year to 12.05 lakh tonnes in the last fiscal year, mainly because of trade restrictions imposed by India, bilateral tensions and operational disruptions, port officials said.

Stricter measures taken by the port authorities to curb tax evasion and irregularities have also played an important role, as the authorities detected at least 130 cases of customs fraud at Benapole in the past six months.

In addition, four separate cases were recently filed over the alleged smuggling of goods worth approximately Tk 20 crore.

Fifty-seven individuals, including customs officials, port authorities, members of various security agencies, and representatives of the business community, have been named as accused in the cases.

"There is no alternative to revitalising import trade and ensuring transparency to achieve the next revenue collection target," said Aminul Haque, vice-president of the Benapole Importers and Exporters Association.

He said stronger monitoring would be required to prevent smuggling and customs duty evasion.

Meanwhile, Rahat Hossain, assistant commissioner of Benapole Customs House, said customs officials were making every effort to increase revenue collection.

"We have adopted a zero-tolerance policy against customs duty evasion and all forms of irregularities. Alongside departmental and legal action against those involved in fraud, financial penalties are also being imposed," he said.