ASYCUDA World is the latest generation of the Automated System for Customs Data (ASYCUDA), a web-based customs management software developed by UNCTAD to modernise customs operations, streamline trade and enhance revenue collection for governments worldwide.
The integration came into effect on January 11 as part of NBR’s initiative to make bond management more modern and time befitting, accelerate duty assessment of imported raw materials and exported goods under bond facilities.
Earlier, verification of UDs relied on manual processes and BGMEA’s system, which often led to procedural complexities, delays in clearance and challenges in transparency and accountability, an NBR release said.
The new initiative is expected to significantly reduce dependence on paperwork, enhance revenue protection, minimise risks and make the import-export clearance process faster and more efficient, domestic media outlets reported.
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