Chittagong Custom House Claims Record Taka 68,866 Crore Revenue in FY ’24
The Chittagong Custom House reportedly had a record income of Taka 68,866.54 crore in the previous fiscal year (FY ’24), representing a 12.25 percent increase.
The Chittagong Custom House’s income collection in FY ’23 was Taka 61,350.44 crore.
Because this customs house handles approximately 90 percent of the country’s import and export operations, officials said revenue collection increased dramatically due to increased vigilance to prevent tax evasion, proper customs tariff fixing, and the imposition of fines for importing goods with false declarations, according to local media.
Chittagong Custom House Commissioner Mohammad Faizur Rahman said, “We’ve strengthened our vigilance to prevent irregularities in imports. We’ve also emphasized realizing custom duty subject to determining the real HS code of products. Besides, the overall revenue collection has increased because of the realization of arrear customs duty and putting importance on resolving the pending cases.”
He stated that Petrobangla owes a significant sum of arrear duty to the Chattogram Custom House; otherwise, revenue collection from this Custom House could have been substantially greater. In the previous fiscal year, Petrobangla provided the Chittagong Custom House with only Taka 800 crore of its entire arrear revenue of Taka 14,000 crore.
The Chittagong Custom House’s revenue collection objective for the past fiscal year (FY ’24) was Taka 77,616 crore.
The port city’s Custom House earned a large sum of money from duties on imported high-speed diesel, furnace oil, apples, cement clinker, palm oil, powder milk, scrap ships, autos, stones, and fuel.
