Bangladesh Custom Duty Rate & Dutiable Goods

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A Leading Advisory Service For Custom Duty Rate & Goods

Of all the businesses in Bangladesh, the import-export business is one of the most vibrant in the country. Custom Duty Rate is something related to such businesses. The number of trading companies has only increased in the last few years because the city-state is located in such a strategic location at the junction of several continents. There can be no better place for foreign investors who want to import or export goods to Bangladesh, although there are several requirements to be met first.
When Custom Duty Rate & Dutiable Goods are imported or manufactured in Bangladesh, they are subject to duty and / or excise duty. There is a difference between the two. Also, investors should keep in mind that some products are tax-exempt in Bangladesh, others are considered taxable products.
Custom duty rate is when duty is levied on goods imported into Bangladesh, while excise duty is levied on goods produced or imported in Bangladesh.
The tariffs imposed in Bangladesh are either on the basis of ad value system or fixed rate. An advertising price is determined based on the percentage price of the product. So, for example, the value of the ad would be about 20% of the value of the product. On the other hand, the rate is fixed according to the unit per weight or any other quantity.

Custom duties are the taxes imposed on the importation and exportation of goods. Customs and other import duties are levies collected on goods that enter the country as imported goods or on the services provided to the residents by non-residents of the country.

Bangladesh Custom Duty Rate & Dutiable Goods

Learn About Custom Duty Rate In Bangladesh With Us

Bangladesh is one of the most restrictive trade regimes and gets a large portion of revenue from import duties and excise taxes. The dutiable goods are a wide range of products from raw materials to finished products with custom duty rate ranging from 0-37.5%. There is also a permanent 2.5% infrastructure development surcharge on almost all imported goods. There are some key points to remember about the tariff system of Bangladesh, such as:

  • Bangladesh levies tariffs at four levels of importation.
  • Information technology equipment, raw cotton, textile machinery, irrigation and agricultural machinery, animal feed for poultry industry, medical equipment and certain drugs and some raw materials are exempt from tariffs. 
  • Sample carried by any passenger can be exempt from tariff but samples sent by courier are subject to tariffs. 
  • Average rates for agricultural goods are higher than for industrial goods in Bangladesh. 
  • Subject to 5% to 25% tariffs are general input items, basic raw materials and finished goods. 
  • Some charges which are applicable for imported goods are:
  • An advanced income tax of 5%
  • A value added tax (VAT) of 5% to 15%
  • A supplementary duty of 10% to 15% applicable for luxury items.

Choose Network BD Consultation For Custom Duty Rate & Goods

NetworkBD is a leading Custom Duty Rate service provider that helps its clients with importation of goods. With the taxation and existing tariff systems in Bangladesh, it remains ambiguous and obscure for general people. We help our clients with that and ensure quality service in every way possible.

FAQ For Custom Duty Rate & Dutiable Goods

How are tariffs calculated?

Add product value, freight cost, insurance and any additional costs and multiply the total by the tariff rate. The result is that you have to pay a fee for your invoice.

Are tariffs applicable on exports? What is customs duty?

Customs is a form of indirect tax and applies to all imported goods and some products exported outside the country. The duty imposed on the import of goods is termed as import duty and the duty imposed on exported goods is termed as export duty.

What is the difference between tariffs and tariffs?

Duties and duties are different types of taxes imposed on foreign goods. A tax is a charge imposed on a taxpayer by a government. Tariff is a direct tax applicable on goods imported from a different country. Customs are indirect taxes that are imposed on the consumer of imported goods.

How do I import goods from another country?

NetworkBD will advise you on how to work. Here are five basic steps you need to know before becoming an importer:

 

1. Decide the country.

2. Different countries have different export / import rules.

3. Search for suppliers.

4. Search for taxes and duties.

5. Find a reliable freight forwarder and customs broker.

6. Send goods on time.

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