Regulatory Alerts2024-05-20
Added
FEOD Circular No. 02: Simplified Remittance and Reporting for Foreign Airlines and Shipping Companies in Bangladesh
Foreign airlines and shipping companies operating in Bangladesh are permitted to retain supporting documents such as airway bills, bills of lading, and expense vouchers at their end instead of submitting them with monthly or quarterly statements for remittance of surplus earnings. Foreign airlines and non-IATA airlines must submit Annexure-FA(I) and system-generated passage sales statements, while foreign shipping companies must submit Annexures-FS(I) through FS(IV) and retain bills or vouchers supporting expenses shown in Annexure-FS(II). Authorized Dealers in Foreign Exchange are required to obtain declarations per Annexure-1 and certificates per Annexure-2 from these entities along with their statements. These instructions apply retrospectively to statements for January 2024 and replace specific appendices of the Guidelines for Foreign Exchange Transactions (GFET)-2018.