There are two main steps in determining Customs duty and other taxes. These are- :
Determining the tariff classification: Customs first ascertain the appropriate tariff classification, which is known as the HS Code (Harmonized System Code) after consulting Bangladesh Customs Tariff in conjunction with the WCO Harmonized Commodity Description and Coding System. Once the appropriate HS Code is determined, the applicable Customs duty rate is applied based on Bangladesh Customs Tariff or the 1st Schedule of the Customs Act, 1969. In applying the appropriate duty rate, the issue of duty exemptions/preferential tariff, if any, is also taken into consideration.
Determining the value for assessment purposes: Under section 25 of the Customs Act, 1969, the basis for determination of value for assessment purposes is the price actually paid or payable (in other words, the transaction value). The valuation principles, applicable for this purpose, are laid down under the Customs Valuation (Determination of Value of Imported Goods) Rules, 2000.
[This is for informational purposes only. In case of contradiction of conflict with relevant Act/Rules, provisions mentioned
or referred to in the said Act/Rules shall prevail.]