Regulatory Alerts2018-02-08
Added · Updated
FEPD Circular No. 03: Export subsidy against export of Software, ITES and Hardware
The document establishes an export subsidy scheme for software, ITES, and hardware exported from Bangladesh, effective for the 2017-2018 fiscal year. The subsidy is set at 10% of the net FOB value for goods manufactured in domestic factories, excluding those in Export Processing Zones (EPZs), Industrial Zones (IZs), or High Technology Parks (HTPs). Eligibility requires a minimum local value addition of 30% for software and ITES, and 20% for hardware, with the subsidy and duty drawback/bond facilities being mutually exclusive. Approved dealer banks must verify applications, including certificates from BASIS, BCS, or BSCC, and submit claims to the Bangladesh Bank within specified timelines, while non-compliance results in the recovery of funds and punitive actions.
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