FEPD Circular Letter No. 28: Insertion of Authorised Dealer Bank's 11-digit VAT Registration Number (BIN) on Letter of Credit, Bill of Lading and other Shipping Documents

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka-1000. www.bb.org.bd

04 Ashwin, 1420 Circular Letter No.-FEPD(Import Policy)123/2013-28 Date: ------------------- 19 September, 2013

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

Dear Sirs,

Regarding the mention of the Authorized Dealer Bank's new 11-digit VAT Registration Number (BIN) on Letters of Credit, Bills of Lading, and other shipping documents when opening a Letter of Credit.

We draw your attention to Circular Letter No. FEPD(Import Policy)/123/2013-06 issued by Bangladesh Bank on 13/03/2013.

2. Through the aforementioned circular, you were informed about the National Board of Revenue's directive requiring the clear mention of the importer's name, address, and BIN (VAT Registration Number) on Letters of Credit, Bills of Lading, and other shipping documents when opening a Letter of Credit on behalf of the importer.

Now, a copy of the National Board of Revenue's directive (Letter No. NBR/IT/AWIP/ADMIN-P(1)/12/202, Date: 18/09/2013) regarding the mention of the Authorized Dealer Bank's new 11-digit VAT Registration Number (BIN) alongside the importer's 11-digit VAT Registration Number (BIN) on Letters of Credit, Bills of Lading, and other shipping documents is enclosed herewith for your information and necessary action.

Yours faithfully,

Signature (Md. Abdul Mannan) Deputy General Manager Phone: 9530319

Enclosure: As stated

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Urgent By Hand / Email

Government of the People's Republic of Bangladesh National Board of Revenue Revenue Bhaban, Segunbagicha Dhaka-1000.

File No. NBR/IT/AWIP/ADMIN-P(1)/12/ 202 Date: 18/09/2013

Mr. N K Sur Chowdhury Deputy Governor Bangladesh Bank

(Take into notice: Deputy General Manager, Foreign Exchange Policy Department)

Subject: Regarding the mention of VAT Registration Number (BIN) along with the Bank's name as the importer.

Reference: Bangladesh Bank Circular No. FEPD (Import Policy)123/2013-06, Date: 13-03-2013.

Sir,

With reference to the subject cited above, you are informed for your kind information and necessary action that under the new ASYCUDA World Automation System of Bangladesh Customs, it has recently been made mandatory to mention the correct 11-digit new VAT Registration Number (BIN) alongside the importer's name on LCs, BLs, and other shipping documents. In cases where the Bank's name is mentioned as the importer (to the order of Bank), the 11-digit new VAT Registration Number (BIN) must be mentioned alongside the Bank's name. It is noted that since the Bank uses a central VAT Registration Number (BIN), the said VAT Registration Number (BIN) must be mentioned regardless of which ED branch opens the LC. The correct details of the ED branch, including the ED Code, will be included in the Customs Bill of Entry subsequently.

2. For this purpose, any bank that has not yet obtained the information addition tax certificate containing its new 11-digit VAT Registration Number (BIN) from the local Value Added Tax Office must do so immediately. In the meantime, the new 11-digit VAT Registration Number (BIN) of the bank for opening LCs can be viewed at the following web link:

http://customs.gov.bd/portal/documents.jsf

3. You are kindly requested to inform all banks regarding this matter through a circular and to provide instructions for its compliance.

Signature (Fateh Al Islam) Second Secretary (Customs) and Deputy Project Director, ASYCUDA World Project Telephone: 02-9357427 Email: alislam@customs.gov.bd