The National Board of Revenue (NBR) has ordered the parties concerned at customs houses and stations across the country to process the export general manifest (EGM) — a legal document or an export report filed by the carrier of a shipment to validate the export transaction — using the ASYCUDA world system.
The move aims to prevent export-related irregularities including fictitious exports — export items that do not exist but are shown on paper only which is a well-known means of money laundering.
The customs wing of the NBR issued an order in this regard on 4 October and it will come into effect on 15 October.
The Automated System for Customs Data (ASYCUDA) is a computerised customs management system that covers most foreign trade procedures.
Up until now, the export-related process at customs houses and stations was not fully automated.
Apart from that, the NBR for the first time specified the scope of work and responsibilities for the concerned parties related to exports — clearing and forwarding (C&F) agents, freight forwarders, shipping agents, and the export general manifest (EGM) department of NBR’s customs wing.
The NBR order also mentioned that if any concerned party violates this rule, action will be taken against them as per the existing customs law.
According to NBR sources, rule violators may face a maximum penalty of Tk50,000.
“Implement the export general manifest (EGM) through the ASYCUDA World system (automated software related to import-export) in various customs houses and customs stations of the country to simplify the export process, prevent money laundering, reduce the time of export process and ensure reliable export statistics. The scope of work of the respective parties has also been specified for the proper conduct of the EGM,” reads the NBR order. Once this system is fully implemented, fictitious exports or export-related irregularities will be reduced by about 90%. Besides, this will make it easier for the NBR to gather accurate data on exports.
