Duty Drawback Regulations 2021 introduced in Bangladesh
August 17, 2021.
Export-oriented enterprises will henceforth exclusively receive customs and regulatory tax refunds from the Director General, Duty Exemption and Drawback Office (DEDO). All exporters must ask for a refund of taxes within six months following export.
Recently, the National Board of Revenue (NBR) adopted the Duty Drawback Regulations 2021. According to the regulations, duties will be repaid under these conditions. The NBR reimburses export-oriented businesses for various products, including raw materials and goods along the supply chain. Exporters will need to apply for a refund with the Director General.
To get the import duty repaid, exporters must fill out a special form and provide proof within six months of exporting the products. After the applicant submits their application form and documentation, the Director General will take the appropriate measures to verify and select them. If necessary, an on-the-spot inspection will be performed. The Director General will release the refund as a check in favor of the applicant’s account within 21 working days following the inspection or within 15 working days if no inspection is required.