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Closure of an EXIM Code (Export-Import Code) is the formal process of de-registering a trader’s identification number with the Department of Customs. This is a critical step to release the Bank Guarantee (BG) and formally discharge the business from customs and revenue-related liabilities.
₨ 1,000.00
The EXIM code is a unique 13-digit identification number required for any business engaged in cross-border trade in Nepal. Under the Customs Act, 2082 and the Procedure for Providing EXIM Code, 2079, a business cannot simply stop importing or exporting; it must undergo a formal de-registration. This ensures that all outstanding customs duties are cleared, and the central database is updated to prevent any unauthorized trade under the business’s name.
Under Section 9 (6) of the Procedure for Providing EXIM Code, 2079, a business may voluntarily apply for the revocation of its EXIM if the business does not wish to export/import goods. This application cannot be made within a year of obtaining the code. The application for revocation is not accepted until the department verifies that there are no payments/dues left to the government. No entity can exit the trade system until all potential revenue risks to the State are fully mitigated.
If a code is simply abandoned, it may be subject to compulsory revocation for non-compliance, which leaves a permanent negative mark on the proprietor’s record. More importantly, without an official Cancellation Certificate, the Nepal Rastra Bank (NRB) and commercial banks are legally prohibited from releasing the collateral or refunding the Bank Guarantee. This can lock up significant business capital and lead to cumulative renewal fines that must be settled before the owner can participate in any future import-export ventures.
