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A Leading Advisory Service For Custom Duty Rate & Goods
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.
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?
Are tariffs applicable on exports? What is customs 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.