Fine doubles for wrong information in export-import documents
The government has amended the Customs Act, doubling the penalty for providing incorrect information in import and export paperwork despite the fact that wrong declarations usually do not bring about any duty evasion.
The National Table of Income (NBR) has increased the fine to no more than Tk 100,000 from Tk 50,000 for declaring incorrect information, according to the Finance Bill 2021-22, which was positioned in parliament on Thursday.
Furthermore, if the trader does not submit any required document, they could face a maximal fine of Tk 50,000, up from Tk 20,000 previously.
The Finance Costs brought changes to two parts of the Customs Act, 1969, to boost the fines, which arrived to effect immediately.
Traders described the hike found in fines unreasonable, saying it could lead to an increase in harassment.
Mahbubul Alam, president of the Chattogram Chamber of Commerce and Industry, said a investor may sometimes unintentionally provide a wrong name or perhaps code for something, but this will not mean that the investor tried to dodge any duties.
"Even then, traders had been fined up to Tk 50,000," he said, adding that the harassment would increase if the good was doubled to Tk an individual lakh.
Altaf Hossain, secretary of the Chattogram Clearing and Forwarding Agent Association, said such amendments were designed to create obstacles found in import-export activities.
"Such unintentional mistakes shouldn't be penalised if there is no motive to evade taxes. Even if an excellent is imposed, it should be nominal," he added.
AKM Nurul Huda Azad, first of all secretary for customs policy of the NBR, said it was not possible to spell it out all irregularities in the Action separately. Simply the anomalies which were not defined specifically would be penalised.
Applying the signature of unauthorised service officials, giving a great incorrect description of goods, or failing woefully to provide information promptly is a breach of regulations.
As a result, customs officials can impose a optimum or minimum fine based on the severe nature of the irregularities.
This is the first amendment to the two sections of the Act since 1986, the NBR official said.
"So, it isn't unreasonable to double the okay after so a long time. The amendments have been done to improve transparency and reduce problems in import and export activities," he added.
