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Gold traders and jewellers of the country will enjoy bond facility if they import gold with the intention of exporting it back as finished products.
National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan gave the information on Sunday while inaugurating the three-day tax fair for gold traders and jewellers at the Hotel InterContinental in Dhaka.
"Gold traders and jewellers may enjoy bonded warehouse facility like readymade garments and leather sector if they import gold as raw material to export it back as finished products," the NBR chairman said.
“The bond facility holders will have to export all their imported gold and they will not be able to sell the gold imported using bond facility in the market,” he said.
"We will maintain the account of export and import of gold under the bond facilities,” he added.
NBR and Bangladesh Jewellers Samity (BAJUS) are jointly organising the fair.
NBR Member (Income Tax Policy) Kanon Kumar Roy presided over the function while BAJUS President Ganga Charan Malakar and Secretary General Dilip Kumar Agarwala, among others, delivered speeches.
Mosharraf informed that the government will not give bond facilities to import ornaments as it is finished product.
Mentioning the gold policy as business-friendly, Mosharraf said, the government is committed to develop the country’s gold industry.
He urged the gold traders to run their business by maintaining the rules and regulations of the gold policy.
Regarding the gold fair, the NBR chief said, NBR is organising the fair to remove panic about tax among the general businessmen.
“There is a panic among the businessmen regarding payment of tax. We want to remove the panic,” he added.