Regulatory Alerts2012-02-22
Added · Updated
FEPD Circular No. 03 : Inward remittance against export of services in non-physical form
Not less than fifty percent of foreign exchange receipts from non-physical service exports must be credited to the relevant service exporter's account in equivalent local currency. The remainder may be credited to the Exporter’s Retention Quota (ERQ) Account maintained in the exporter's name. This requirement applies to Business Process Outsourcing services and other non-agency service exports such as business, professional, research, and advisory services rendered from Bangladesh. Authorized Dealers must adhere to the instructions laid down in FE Circular No. 06 of May 30, 2011, in addition to these provisions.
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