Regulatory Alerts2020-11-17
Added · Updated
FE Circular No. 48: Calculation of Remittable Surplus for Demurrage, Detention, Handling or Equivalent Charges
Charges collected prior to the 2017-18 financial year are now included in the calculation of remittable surplus for foreign shipping lines and their agents in Bangladesh. These amounts must be reported in a supplementary statement reflecting tax deductions under the Finance Act 2017 and Income Tax Ordinance 1984, and subsequently shown in the revised App-5/34 form. This directive applies to all Authorized Dealers in Foreign Exchange and foreign shipping lines operating in Bangladesh, effective immediately.
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