Bangladeshis can no more bring in more than 200 grams of gold or silver under 'baggage rules'

Bangladesh nationals will no longer be allowed to bring in more than 200 grams of gold under 'baggage rules', the central bank has announced.

The Bangladesh Bank on Wednesday scrapped a 1996 decision permitting import of up to two kilograms of gold by individual travelers beyond baggage rules.

And even the 200 grams will be dutiable -- at the rate of Tk 3000 for each bhori or 11.66 gram.

The central bank issued a circular on Wednesday to this effect.

Before the revision, the highest permissible amount was 300 grams under the rules.

A central bank official told bdnews24.com the latest directive followed a request from the Customs department.

Jewellers say the change would not affect their business.

Bangladesh Jewellery Association General Secretary Enamul Haque Khan said the provision, which allowed carrying home up to 2 kgs of the two precious metals, was paper-only.

“Nobody would bring gold or silver under the provision because of tax. Maintaining or revoking the previous order is same to use. It won’t impact our industry,” he said.

Under the new order, an individual would not require payment of tax for the first 100 grams of the precious metals if they are brought in the form of ornament.

He has to pay tax for the entire 200 grams if they are in bars.