NBR to Launch Fully Automated Bonded-Warehouse System

Company Intelligence Tag: Business Insights
Economic Tag: Vat & Tax

The National Board of Revenue (NBR) is set to launch a fully automated bonded-warehouse facility on 01 January 2025, streamlining paperless services for domestic exporters. The Bond Management Automation Project, which was initially launched in July 2017, has faced multiple extensions due to disruptions caused by the Covid-19 pandemic. The system aims to eliminate the misuse of bonded-warehouse facilities and reduce manual processes. With 24 operational modules, exporters will no longer need manual bond licences after the December 30 deadline. The project, initially estimated at Tk 930 million, was scaled down to Tk 450 million, utilizing the Asycuda platform for data management. Mohammed Hatem of BKMEA supports the automation but emphasizes the importance of customs officials’ mindset for its success.

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