The Chattogram Custom House has reported a record revenue collection of Taka 68,866.54 crore in the last fiscal year (FY24), marking a 12.25 percent growth compared to the previous fiscal year (FY23), which saw a revenue collection of Taka 61,350.44 crore.
This significant increase in revenue is attributed to enhanced vigilance measures aimed at preventing tax evasion, proper determination of customs tariffs, and fines imposed for false declarations of imported goods. Since approximately 90 percent of the country’s import and export activities are conducted through this custom house, these measures have had a substantial impact on revenue growth.
Chattogram Custom House Commissioner Mohammad Faizur Rahman highlighted the efforts made to prevent irregularities in imports and emphasized the importance of determining the accurate HS code of products to ensure proper customs duty collection. He also noted that the overall revenue collection has benefited from the realization of arrear customs duties and the resolution of pending cases.
However, he pointed out that Petrobangla, a state-owned oil, gas, and mineral resources company, owes a significant amount of arrear duty to the Chattogram Custom House. Out of a total arrear amount of Taka 14,000 crore, Petrobangla managed to pay only Taka 800 crore in the last fiscal year. Had these dues been cleared in full, the revenue collection figures could have been even higher.
The revenue collection target for the Chattogram Custom House in FY24 was set at Taka 77,616 crore. The revenue was primarily derived from duties on the import of high-speed diesel, furnace oil, apples, cement clinker, palm oil, powdered milk, scrap ships, automobiles, stones, and petroleum.
Rahman expressed satisfaction with the record revenue collection and reiterated the commitment of the Chattogram Custom House to continue its efforts to enhance vigilance and ensure the accuracy of customs duty collection.