What are the different types of bonded warehouse facilities?
16/05/16 at 3:40 pm
Depending on the types of inputs/raw materials used, the purpose of their use, and the type of exports, bonded warehouses are basically of two categories: Special bonded warehouse and general bonded warehouse.
Special bonded warehousing applies to 100% export-oriented readymade garments industries, which include woven garments and knitwear and sweater manufacturing industries.
General bonded warehousing applies to other 100% export-orient oriented industries. These include-
100% export-oriented ship building industry,
Accessories industries for :
Deemed exports (e.g. 100% export-oriented packaging/carton, label, polybag, button, hanger etc. firms), and
General Bonded Warehouse for home consumption, e.g. British American Tobacco. These are basically deferred payment facility for 6 months. Duties are paid when raw materials/goods are cleared.
Diplomatic & privileged persons bonded warehouse (e.g. M/s Toss Bond (Pvt) ltd., M/S H. Kabir & Co. Ltd; Biman Bangladesh Airlines; Bangladesh Parjatan Corporation). Duty free articles are sold from these bonded warehouse in foreign currency to diplomats & privileged persons residing in Bangladesh.
Bonded enterprises situated in the Export Processing Zones.
Bonded enterprises situated in the Economic Zones.