FEPD Circular Letter No. 123/2015-17: Collection of 15% Withholding VAT on Fees for Issuance and Renewal of Import, Export and Indenting Registration Certificates

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.

Ref. No. FEPD(CIP)123/2015-17
18 Bhadra, 1422
Circular Letter No. FEPD(Import Policy)123/2015-17 dated ------------------- 02 September, 2015

To
All Approved Dealer Banks engaged in foreign exchange transactions Head Office / Principal Office.

Dear Sir,

With reference to the Memorandum No. 26.03.00.00.007.03.001.14-668, dated 27/08/2015, and accompanying letters (National Board of Revenue File No. -08.01.00.00.068.25.002.15/329(1), dated 18/08/2015, and Customs, Excise and VAT Commissionerate, Dhaka (South) File No.-4(6)73-Bastu: / Withholding Tax / 2009/ 497) of the Office of the Chief Controller of Imports and Exports of the Government of the People's Republic of Bangladesh, you are requested to pay attention (copy enclosed).

In accordance with the instructions in the enclosed letters, regarding the collection of VAT at a rate of 15% on the renewal fees received for registration certificates issued since the fiscal year 2010-2011, including the issuance/renewal of existing registration certificates, a copy of the Memorandum sent by the Office of the Chief Controller of Imports and Exports is enclosed herewith for your information and necessary action.

Please kindly inform all concerned parties about this matter.

Yours faithfully,

Enclosure: As per list

(Md. Zakir Hossain Chowdhury)
Deputy General Manager
Phone: 9530250

///

Copy to:

1. Director General, National Board of Revenue, Shapla Chattar, Dhaka.
2. Commissioner, Customs, Excise and VAT Commissionerate, Dhaka (South), Dhaka.
3. All Deputy Directors, Office of the Chief Controller of Imports and Exports, Dhaka.
4. Guard file.

(Md. Zakir Hossain Chowdhury)
Deputy General Manager
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.

Ref. No. FEPD(CIP)123/2015-17
18 Bhadra, 1422

To
The Chief Controller of Imports and Exports
Office of the Chief Controller of Imports and Exports Shapla Chattar, Dhaka.

Subject: Collection of 15% Withholding VAT on fees for issuance and renewal of Import, Export and Indenting registration certificates.

Reference: Your Memorandum No. 26.03.00.00.007.03.001.14-668, dated 27/08/2015, and accompanying letters (National Board of Revenue File No. -08.01.00.00.068.25.002.15/329(1), dated 18/08/2015, and Customs, Excise and VAT Commissionerate, Dhaka (South) File No.-4(6)73-Bastu: / Withholding Tax / 2009/ 497).

Sir,

With reference to the above, you are informed that in accordance with the instructions contained in the aforementioned Memorandum and accompanying letters, all Approved Dealer Banks engaged in foreign exchange transactions are directed to collect VAT at a rate of 15% on the fees received for the issuance and renewal of Import, Export, and Indenting registration certificates. This applies to all such certificates issued or renewed since the fiscal year 2010-2011. The collected VAT must be deposited into the government treasury in accordance with the relevant rules and regulations.

You are requested to ensure that this instruction is strictly followed by all concerned branches and offices under your control.

Yours faithfully,

(Md. Zakir Hossain Chowdhury)
Deputy General Manager
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.

///

Copy to:

1. Director General, National Board of Revenue, Shapla Chattar, Dhaka.
2. Commissioner, Customs, Excise and VAT Commissionerate, Dhaka (South), Dhaka.
3. All Deputy Directors, Office of the Chief Controller of Imports and Exports, Dhaka.
4. Guard file.

(Md. Zakir Hossain Chowdhury)
Deputy General Manager
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.

Ref. No. FEPD(CIP)123/2015-17
18 Bhadra, 1422

To
The Chief Controller of Imports and Exports
Office of the Chief Controller of Imports and Exports Shapla Chattar, Dhaka.

Subject: Collection of 15% Withholding VAT on fees for issuance and renewal of Import, Export and Indenting registration certificates.

Reference: Your Memorandum No. 26.03.00.00.007.03.001.14-668, dated 27/08/2015, and accompanying letters (National Board of Revenue File No. -08.01.00.00.068.25.002.15/329(1), dated 18/08/2015, and Customs, Excise and VAT Commissionerate, Dhaka (South) File No.-4(6)73-Bastu: / Withholding Tax / 2009/ 497).

Sir,

With reference to the above, you are informed that in accordance with the instructions contained in the aforementioned Memorandum and accompanying letters, all Approved Dealer Banks engaged in foreign exchange transactions are directed to collect VAT at a rate of 15% on the fees received for the issuance and renewal of Import, Export, and Indenting registration certificates. This applies to all such certificates issued or renewed since the fiscal year 2010-2011. The collected VAT must be deposited into the government treasury in accordance with the relevant rules and regulations.

You are requested to ensure that this instruction is strictly followed by all concerned branches and offices under your control.

Yours faithfully,

(Md. Zakir Hossain Chowdhury)
Deputy General Manager
Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.