Amendments on Bonded Warehouse Licensing Rules, 2008

SRO No. 13-AIN/2024/01/Customs

The National Board of Revenue amended the Rule 7 and 8 of the Bonded Warehouse Licensing Rules, 2008 in the following manner as summarized:
• License Term: In all cases, the term of the license shall be 3 (three) years from the date of issuance of license
• License Renewal: The renewal conditions for a bond license are as follows:
1. The license holder must undergo audits by the relevant Bond Commissionerate or Bond Regulatory Commissionerate for at least two out of the last three years.
2. There must be import-export activity in at least one of the previous three years.
• License Renewal Procedure: To renew a bond license, organizations must pay either a 5,000 taka or 10,000 Taka renewal fee per annum, depending on whether they are associated with an organization or not. Payment is made via a treasury challan, and necessary documents are submitted to the relevant association or customs officer. The license is then automatically renewed within 30 working days.