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Half of Chittagong Customs House revenue income comes from top 100 firms

  • Published at 05:24 pm August 5th, 2017
  • Last updated at 05:29 pm August 5th, 2017
Half of Chittagong Customs House revenue income comes from top 100 firms
As many as 100 enterprises paid around Tk17,000 crore from which the Chittagong Customs House (CCH) earned almost half of its total revenue income in the last fiscal year. The CCH authorities earned Tk16,848 crore from the largest 100 government and private firms, which constitutes 46% of its total revenue income. The number of enterprises paying more than Tk50 crore in revenue stood at 91, while the number of firms paying more than Tk100 crore stood at 46. A total of 1,043,000 consignments, to the tune of Tk32,000.2 crore, were delivered through Chittagong port in the fiscal year 2016-17. Some 20,000 government and private enterprises import goods through Chittagong port every year. Goods from 4,671 different categories are imported through the premier sea port of the country every year. Moreover, there are 900 categories of goods, of which more than 1,000 tonnes are imported every year.
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Meghna Petroleum Ltd, Padma Oil Company Ltd, Jamuna Oil Company Ltd and Eastern Refinery Ltd have retained the top positions on the list of government owned firms. Of the private enterprises, Abul Khair Group, Abdul Monem Sugar Refinery Ltd, S Alam Refined Sugar Industries Ltd, Tanveer Oils Ltd, Shabnam Vegetable Oil Industries Ltd, TVS Auto Bangladesh Ltd, Menoka Motors Ltd and Unilever Bangladesh Ltd top the list. The businesses, which paid more than Tk200 crore in import duty, include Singer Bangladesh Ltd, Banglalink Digital Communications Ltd, Uttara Motors Ltd and RFL Plastics Ltd. The data provided by the customs authorities shows that Meghna Petroleum Ltd paid Tk1,410 crore in duty. The oil company imported around 1.3 million tonnes of oil, worth Tk5,239.47 crore in FY2016-17. Padma Oil Company Ltd paid Tk1,316 crore, Jamuna Oil Company Ltd paid Tk1,232 crore and Eastern Refinery Ltd paid Tk865 crore in duty.
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Similarly to the previous year, Abul Khair Group retained its top position among the private companies in duty payment. The group imported 8.80% (5.3 million tonnes) of the total number of consignments delivered through Chittagong port in the last fiscal year. The group paid Tk1,414 crore to the exchequer in duty due to the import of worth around Tk7,654 crore. Meghna Group has risen to become the second highest duty payer among the private firms in the country. The group paid Tk638 crore for the import of around 2.4 million tonnes of goods in the last fiscal year. The group deals in dairy products, sugar, cement and edible oil. TK Group secured the spot of third highest duty payer by paying Tk630 crore by importing around 8.5 tonnes of goods in the last fiscal year. Uttara Group of Companies Ltd secured the fourth highest place among duty payers by paying Tk594 crore. Local business conglomerate S Alam Group was in fifth position on the list by paying Tk545 crore in the last fiscal year. Joint Commissioner of Chittagong Customs House Rais Uddin Khan said that half of the total revenue income comes from the top 100 firms every fiscal year. “Chittagong Customs House achieved a satisfactory level of revenue income due to the easing of the taxation procedures,” the official said.