Regulatory Alerts2017-04-20
Added · Updated
FEPD Circular Letter No. 03: Imposition of 15% VAT from FY-2010-2011 on fees collected from the parties for issuing and renewing import, export and indenting certificates and submit that collected amount to government treasury
Approved Dealers Banks are directed to resume the collection of 15% Value Added Tax (VAT) on fees charged for issuing and renewing import, export, and indenting certificates, effective from the fiscal year 2010-2011. This directive reinstates previous instructions after the High Court of Bangladesh dismissed Writ Petition No. 5354/2016 and cancelled the interim order that had previously suspended VAT collection for three months. The collected amounts must be deposited into the government treasury in accordance with the Ministry of Commerce's notification dated April 3, 2017.
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