FEPD-1 Circular No. 27: Import declaration requirements for intercompany dealings

Foreign Exchange Policy Department-1 Bangladesh Bank Head Office Dhaka www.bb.org.bd FEPD-1 Circular No. 27 Date: August 04, 2026 All Authorized Dealers in Foreign Exchange in Bangladesh Import declaration requirements for intercompany dealings Dear Sirs, Please refer to paragraph 8(1) of FE Circular No. 33, dated August 14, 2025, in terms of which payment against imports is subject to declaration by the importer on the prescribed IMP Form. Importers are required to carefully read the instructions contained therein and, inter alia, declare that they are neither directly nor indirectly connected with the exporters abroad, nor have any financial or other interest in such exporters. 02. It has been observed that, in practice, import transactions are often conducted with parent companies, approved foreign subsidiaries, or legitimate branch offices abroad, which constitute intercompany transactions. 03. In order to rationalize the aforesaid declaration requirement, it has been decided that, in cases of intercompany transactions, the importer shall, in lieu of the declaration mentioned above, provide a declaration to the effect that: (a) the transaction is conducted on an arm’s length basis reflecting competitive market price; and (b) all applicable transfer pricing regulations and other relevant laws, including AML/CFT standards, are duly complied with. 04. In such cases, the declaration at clause 1(c) of the IMP Form (Appendix-1 of FE Circular No. 33, dated August 14, 2025) shall not be required. Accordingly, IMP Form shall stand amended as per attachment. 05. Authorized Dealers (ADs) shall obtain the above declaration from the respective importers prior to initiating import transactions. ADs shall also satisfy themselves, on the basis of appropriate documentary evidence, regarding the legitimacy of the relationship between the importer and the exporter abroad. Cont’d to page-2

-2- 06. The instructions applicable for intercompany transactions as stated above shall, mutatis mutandis, also apply to export transactions. Accordingly, the provisions of paragraph 13(1)(c), Part-A of FEPD-1 Circular No. 26, dated July 30, 2026 stand modified to that extent. 07. ADs shall ensure compliance with applicable regulatory requirements in processing such transactions. Other instructions shall remain unchanged. Please bring the contents of this circular to the notice of your concerned constituents for strict compliance. Yours faithfully,

(Md. Harun-Ar-Rashid) Director (FEPD-1) Phone: 9530123

See Paragraph 8, Part-A Appendix 1 Primary Import Information IMP Form

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1. I/We declare (a) That the above payment is due and that I/we have not already obtained exchange for payment of (any of) these goods, nor have l/we made any other application for that purpose. (b) The amount of Foreign Exchange mentioned above represents the correct prevailing market price for these goods on the date of contract in country of export. (c) *That I/we am/are neither connected with the exporters abroad directly or indirectly nor do l/we have any financial or other interest in the exporters abroad; or (c) *In cases of intercompany transactions, (i) the transaction is conducted on an arm’s length basis reflecting competitive market price; and (ii) all applicable transfer pricing regulations and other relevant laws, including AML/CFT standards, are duly complied with. *(Strike out the portion not applicable and authenticate with initials)
2. We certify that the above import is covered by a valid LC/sales contracts.
3. I/We undertake to clear the goods for consumption in Bangladesh within four months of the date of this application and shall, before the expiry of that period, submit to your bank the authenticated copy/ies of the Customs Bills of Entry or certified invoice's covering the above goods (See note (a) below)
4. I/We declare that the statements made in this application are true to the best of my our knowledge and belief
5. I/We assume full responsibility for complying with the provisions of the Foreign Exchange Regulation Act, 1947 and rules, orders and directions made there under.

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