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Substantial decline in revenue collections from land port |
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News |
April
1, 2000
Revenue collections from the country's land ports have come down substantially in recent days with increase in informal trade.
Collections of tax revenue, during the last eight months of current fiscal (July, 1999- February,2000), from most of the ports, specially from Benapole, Mongla, Rajshahi and Chittagong have demonstrated a major decline. According to official sources, revenue incomes from Benapole, Mongla and Sonamosjid land ports have come down more than 30per cent than the target fixed for the period.
The revenue earned through Benapole customs amounted to Tk 3.16 billion during the last eight months as against Tk 3.79 billion. The amount is only 16.79 per cent less than the target. But the shortfall in February alone demonstrated more than 33 per cent. Some 30.97 per cent decline in
revenue collection was also observed in case of Mongla port. The total collection was about Tk
2.18 billion as against the target of Tk 3.17 billion.
The Chittagong
land port at Teknaf also recorded a similar situation with l2.3 l per cent decline in revenue collection. The
Chittagong Customs Bhaban also demonstrated a similar situation. Customs officials attributed the reasons behind the shortfall in revenue collection to growing bias towards import through unofficial channels which, according to sources, accounted for some 34 per cent of the total import. Unless the loss of revenue due
to invasion of import duties are checked immediately, sources apprehended that the country
would measurably fail to attain its revenue target.
Although the country at present is experiencing a massive influx of foreign goods with introduction of market economy and liberalization of trade and business, revenue collection from customs has not picked up accordingly as most of the goods are coming through unofficial channels. The country having 4427 km
borderline with the neighboring India has already experienced Taking the advantages of liberal import policy, smugglers bring in huge quantity of goods into the country from the neighboring India and Myanmar. Unabated smuggling of goods from India has cast an adverse effect on revenue collections on Benapole, Sonamasjid and other customs houses in frontier districts. Smuggling of goods from across the river Naf also affected the revenue income of Chittagong customs. Bangladesh with its porous border with four Indian states is considered a fertile ground for smuggling of Indian goods. Although there is no official statistics on informal trade, estimates made by businessmen put the figure at over Tk 10 billion annually as against the formal trade of Tk 30 billion between India and Bangladesh. Indian goods are brought into the country by smugglers through land routes allegedly either in connivance with a section of dishonest law-enforcing agency personnel or by dodging their vigilance.
Source: The Financial Express
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