FEPD Circular Letter No. 29: Regarding submission of statement of VAT deducted at source against services provided by non residents

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka. Ref. No. FEPD Circular Letter No. 29 Date: 10 November, 2021

To All Approved Dealer Banks engaged in Foreign Exchange Transactions Head Office / Principal Office.

Dear Sir,

Reference is invited to FEPD Circular Letter No. 21/2021 regarding the submission of statements of VAT deducted at source against services provided by non-residents. In this circular, you are advised to submit the calculation statements of VAT deducted at source on remittances sent abroad under general authorization or with the special permission of Bangladesh Bank for services provided by non-residents such as royalty, advertisement, and consultancy, through the Head Office of the Approved Dealer Bank to the Member (VAT Policy), National Board of Revenue, and the concerned VAT Agent within seven days of the following month.

2. In light of the recent decision of the National Board of Revenue, you are advised to submit the calculated VAT statements to the Commissioner, Customs, Excise and VAT Commissionerate (South), IDB Bhaban, 160/A, Kakrail, Dhaka, instead of the Member (VAT Policy), National Board of Revenue.

Kindly inform all concerned parties regarding this matter.

Yours faithfully,

(Kazi Rafiqul Hasan) General Manager Phone: 9530123