On 29 October 2026, the National Board of Revenue (NBR) issued a clarification regarding the withdrawal of bond facility for imports of 10-30 count cotton yarn falling under HS headings 5205, 5206, and 5207 of the Bangladesh Customs Tariff. The order mandates that importers must now furnish a bank guarantee to avail import benefits, replacing the previous bond facility. This measure aims to strengthen revenue protection and ensure compliance with customs valuation rules. The clarification references Order No. 51/2026/Customs/519 dated 7 September 2026 and provides detailed procedural guidance for importers and customs stations.
Key Takeaways
- Bond facility withdrawn for cotton yarn imports (10-30 count) under HS 5205, 5206, 5207; bank guarantee required.
- Importers must submit bank guarantee equivalent to duty/tax amount to clear goods.
- Customs stations directed to enforce new procedure immediately; non-compliance may attract penalties.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement