Despite a nearly 6% decline in imports through Chattogram Port, Chattogram Custom House reported a 4% year-on-year revenue growth in 2023, reaching Tk64,616 crore. Business professionals attribute this rise to increased import costs caused by the devaluation of the local currency, taka, and higher assessment values by Customs. The Customs authorities emphasize successful initiatives against smuggling, fraud, and tax evasion as key contributors to the growth in import duty collection. Although the volume and value of imports fell by 5.80% and 3%, respectively, in 2023, the revenue surge remained resilient. However, during the first half of FY24, revenue targets were missed by 14.17%, amounting to a deficit of Tk5,475 crore, primarily due to the Russia-Ukraine war and a dollar crisis affecting imports.
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