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e-LC in the offing to check tax dodging
The National Board of Revenue and Bangladesh Bank are going to introduce electronic letters of credit to prevent use of fake LCs as well as to facilitate importers and exporters in smooth international trade, officials concerned said.
They said the system would check tax dodging through submitting fake LCs to the customs offices.
The online or e-LC system will be introduced under the National Single Window in which all activities related to import and export to be conducted online instead of existing manual system, they said.
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