Regulatory Alerts2013-12-10
Added · Updated
FEPD Circular Letter No. 35 : Online reporting of foreign exchange transactions
Authorized Dealers must report import transactions specifying FOB value, freight, and insurance charges through the existing online import reporting module starting January 01, 2014. This requirement applies to import settlements on CFR or other permissible terms that require payment for goods together with freight and applicable insurance charges. Two new fields for freight charges and insurance expenses have been incorporated into the web portal to facilitate this reporting.
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