Chittagong Customs House, the largest revenue collecting agency in the country, has collected a record amount of revenue. In the last fiscal year (2021-22), Chittagong Customs collected Tk 59 thousand and 256 crores.
Revenue collection has increased due to an increase in commodity prices in the international market. Also, revenue collection has increased due to the increase in tariff prices of some products.
Most of the import and export activities of the country are conducted through Chittagong port. Preliminary estimates by the National Board of Revenue (NBR) show that about Tk 3 lac crores was collected in the last fiscal year. As such, one-fifth of the NBR’s total revenue collection comes from the Chittagong Customs House.
At the end of last year, the prices of various products including fuel oil, edible oil, and steel started rising in the international market. Due to this the base price of the tariff process also increases. This increases the collection of customs duty at the import stage. At the import level, customs duty collection increased by more than 20% throughout the year.
This time the revenue collection at Chittagong Customs House has increased by about 15%. Chittagong Customs House has collected Tk 51 thousand and 576 crores in the fiscal year 2020-21. In other words, in the last fiscal year, Tk 7 thousand and 680 crores more have been collected compared to the previous time.
