New Customs Act 2023 to come into effect on June 6

A new Customs Act 2023 will come into effect from June 6 this year aiming to enhance fiscal discipline, accountability in import revenue collection and trade facilitation.

On May 30, the government issued a gazette in this regard signed by Abu Hena Md Rahmatul Muneem, chairman of the National Board of Revenue (NBR).
The new law will replace an existing Customs Act, 1969.

Some existing provisions have been revised and incorporated in the new law to makecustoms agents, exporters and importers more responsible, according to the NBR officials.

The Customs Bill of 2023 was placed in parliament on October 25 last year by Law Minister Anisul Huq.

It was subsequently referred to a parliamentary standing committee for scrutiny. The committee was asked to provide its report within seven days.

Later, the bill was passed by voice vote.

The upcoming law, framed in Bangla, incorporated up-to-date provisions on revenue collection to foster growth in import and export trade, facilitate business activities, and promote the development of new industrial sectors.

The existing law, enacted in English by incorporating international best practices related to customs, was part of a multifaceted reform and modernisation programme undertaken by the government and the NBR.

It had sought to promote international standards of customs management in international trade and import and export.