The National Board of Revenue, or NBR, Chairman Md Abdur Rahman Khan has admitted failure to curb gold smuggling, revealing that 99 percent of the precious metal smuggled into Bangladesh remains undetected due to limitations.
"This is harmful for the country and for everyone. So why do we continue this illegal activity?" he asked at a meeting with leaders of the Bangladesh Jewellers' Association, or BAJUS, at the Rajaswa Bhaban in Agargaon on Sunday.
"And if you say you are not involved, then where is all this gold coming from? Out of 100 cases, we can seize only one. We fail to detect the rest for different reasons. That is why we want to hear about the problems," he said.
Expressing concern over the lack of gold import despite the presence of a large jewellery market, he added: "Tell us about your challenges. We want to promote trade and resolve issues.
"There is so much gold in the market, yet no official imports. I don't have an answer to that. I want to find out why," he added.
Chairman Rahman also hinted at the murder of former Awami League MP Anwarul Azim Anar abroad, linking it to gold smuggling.
"Last week, 17.5kg of gold was seized in Sylhet. Smuggling is illegal and carries severe punishment. It also leads to numerous killings due to conflicts over information. The latest case was a major, sensational multinational killing," he said.
"His body was never found. It is said that he was involved in this trade," said Abdur Rahman.
Despite lower import duties, the lack of legal gold imports puzzled the NBR chief.
"Passengers bringing gold from abroad must pay duty under baggage rules. But importers face much lower taxes," he said.
"Yet, why is there no official import? So many jewellery shops are selling gold, but there is barely any record of imports. Official imports are minimal, even though they are allowed under import policies."
Senior NBR officials attended the meeting, along with BAJUS General Secretary Badal Chandra Roy and Vice Presidents Riponul Hasan and Masudur Rahman.
The BAJUS leaders explained that no import licences were issued for four years, while financial constraints prevented traders from importing gold for two years.
They urged NBR to lower taxes on gold imports.
They also pointed out that combined advance income tax and value-added tax make official imports costlier than bringing gold under baggage rules.
They demanded lower duties and a simplified import process.
After listening to their concerns, the NBR chairman said: "Many expatriates bring gold, and they are used as carriers. The baggage rules are being misused. We will amend the baggage rules to ensure that businesses can operate smoothly." —bdnews24.com
