|Bonded Warehouse Facilities|
|Written by B.M. Syedur Rahman Programmer,Bond,|
As per Customs Act, 1969 and Value Added Tax Act, 1991 with very few exceptions, almost all exports are tax free. They also get tax free benefit of import or local purchase for the raw materials to be used in manufacturing of exporting goods.But imports of raw materials are taxable in regular tax regime.
(Source: ASYCUDA++, NBR)
Note 1: The tax expenditure includes imports under Garments Bond (SBW) and EPZ Bond which are identified in the ASYCUDA++ by Extended Procedure Code (EPC) 7200 and 7300 respectively. Tax expenditure data are extracted from ASYCUDA++ using the EPC.
Note 2: The tax expenditure data mentioned above does not include the tax free local purchase under Back to Back LC or similar instruments.