Exporters can now look forward to market limestone in Bangladesh once again from December, this year.
The Ambassador of Bangladesh to Bhutan assured to make the product tax-free after seeking Special Revenue order by December. This was highlighted during a business event between private stakeholders and the delegation from Bangladesh who are in Thimphu for the third joint working group of customs meeting.
During the meeting, Bhutanese Limestone exporters requested the Bangladeshi government to exempt tax on the product. Bangladesh customs started levying tax on the limestone powder imported from Bhutan from February last year after the product was classified under the harmonised system code 2517. The new code, 2517, is not duty free and bears a tax of nearly 60 per cent.
The harmonised system code is an internationally standardised system of names and numbers to classify traded products.
Similarly, local exporters requested the Bangladeshi government to levy tax on Quartzite only if silicon content is more than 97 per cnet. Currently exporters pay tax if the silicon content exceeds 90 per cent.
The Bangladeshi Government agreed to consider it after submitting clear reasons for exemptions.
