Regulatory Alerts2015-04-23
Added · Updated
FEPD Circular No. 03: Remittance against purchase of software through eDelivery
Authorized Dealers in Foreign Exchange in Bangladesh may effect remittances for software purchased via eDelivery without prior Bangladesh Bank approval, provided they verify a BASIS certificate confirming the purchase is genuine and sourced from a reliable supplier. Dealers must also receive the customs assessment order and documentary evidence of duty or tax payment, ensure the supplier certifies receipt of the software, and comply with AML/CFT regulations. Additionally, Authorized Dealers are required to retain authenticated copies of supplier certifications and report these transactions to Bangladesh Bank using IMP Forms in monthly returns. Remittances not adhering to these specific instructions continue to require prior approval from Bangladesh Bank.
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