Regulatory Alerts2019-01-06
Added · Updated
FEOD Circular No. 02: Submission of Monthly/Quarterly statement by Local agents of Foreign Courier Service Companies
Foreign courier service companies and their local agents in Bangladesh must submit monthly statements to Authorized Dealers (ADs) to remit surplus earnings to their head offices, or quarterly statements to Bangladesh Bank if operating on a free delivery basis without such remittances. Authorized Dealers are required to meticulously examine supporting documents, ensure compliance with VAT and income tax laws, and forward approved papers to Bangladesh Bank within fifteen days of the following month. Additionally, all courier service agents must submit annual audited financial statements through their ADs, while existing instructions in the Guidelines for Foreign Exchange Transactions (GFET), 2018 remain unchanged.
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