Summary of meeting with TCF and Customs Bond Commissionerate

Summary of meeting with TCF and Customs Bond Commissionerate: UP/UD issues: UP/UD is required to track the amount/quantity of goods at the time of the Bonded Warehouse Audit. Authority is already facing problem for EPZ company for not having UP/UD. However, the Customs Bond Commissionerate (CBC) knows about the CHT letter issue. NBR has requested CBC to make an opinion on the CHT letter. Now CBC will reply to NBR by describing the real circumstances related to UP/UD issues. But CBC is positive about CHT. Business Scheme: Selling to a Deemed Export/Bonded warehouse is not possible as per law since it is like a trading business. We explained other Bonded warehouse imports from NICCA JP by Master L/C. It will be convenient (minimizing time & cost) if the Other Bonded warehouses buy the product directly from the NICCA bonded warehouse. Then authority realizes the issue. Huntsman Corporation also took bonded warehouse license for selling products to bonded warehouses. It was allowed by the authority. But they failed to start business in time. The products are eligible to get duty exemption, since the product is imported not for domestic usage, hence there is a possibility to allow the business model of NICCA BD. Authority is positive about this business scheme. But the decision should come from NBR. Authority is requesting to apply first, and then request to negotiate for the establishing the new business scheme. NICCA JP Import from NICCA Site by Master L/C Export Selling to other bonded warehouses is not possible now. But it may allow in future to sell with Master L/C to other Bonded warehouses. Selling to DEx with B2B L/C is possible. Master LC is not allowed. Now, other Bonded warehouse can sell product to DEx by B2B L/C with UP/UD. But in future UP/UD may be considered. Direct Exporter (DEx) Other Bonded Warehouse NICCA BD Bonded Warehouse Import by master L/C