India-Bangladesh Inked Pact for Enhanced Trade Facilitation and Combating Tax Evasion
India and Bangladesh on 22 October 2013 inked an agreement for enhanced trade facilitation and for combating evasion of duties and taxes.
India and Bangladesh on 22 October 2013 inked an agreement for enhanced trade facilitation and for combating evasion of duties and taxes. The agrrement was signed during the India-Bangladesh Joint Group of Customs meet in Dhaka.
The agreement was signed by India's Revenue Secretary Sumit Bose and Md. Ghulam Hussain, Chairman of the Bangladesh National Board of Revenue.
This was the ninth meeting under the Secretary-level Joint Group of Customs. The next meeting will take place in New Delhi in 2014.
About the Agreement
• Under the agreement, India and Bangladesh identified 16 Land Customs Stations of high bilateral trade for synchronisation of working hours and days, and extension of Car Pass System thereby allowing movement of trucks for unloading up to the point of Land Custom Station.
• India- Bangladesh also agreed to allow custom officials of both countries to cross the borders to each other's land Custom Stations for coordination and resolving operational issues.
• Both countries also agreed to keep the Land customs Stations at Petrapole and Benapole and Agartala and Akhaura operational for 7 days a week from 1st january, 2014.
• They also agreed to improve institutional linkages between their customs administrations at operational and policy levels to facilitate trade and protect revenues.