Regulatory Alerts2014-06-29
Added · Updated
FEPD Circular Letter No. 13: Payment of VAT against fees for auditing cases of cash assistance/subsidy
A decision has been made to allow banks to receive a refund from the government for Value Added Tax (VAT) paid on audit fees. This applies to cases involving cash assistance or subsidy payments made by the government against exports. Applicant banks are required to include the claim for the VAT amount along with their audit fee refund claim, following the guidelines of Circular Letter No. FEPD (Export Policy) 291/2002-1367 dated June 2, 2002. This directive from the Foreign Exchange Policy Department of Bangladesh Bank becomes effective on July 1, 2014.
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