Regulatory Alerts2015-07-09
Added · Updated
FEPD Circular No. 06: Issuance and disposal of EXP Form and IMP Form
Authorized Dealers of Foreign Exchange in Bangladesh must phase out the submission of hard copies of EXP and IMP Forms with monthly returns, relying instead on the online reporting system. The number of EXP Forms is reduced from four sets to two, renamed First Original and Second Original, while IMP Forms are required in original rather than duplicate. Authorized Dealers must report transactions via the online module within 14 days of shipment or payment and retain the relevant forms for five years for inspection, with disposal contingent on clearance if under investigation. These instructions, effective October 1, 2015, also allow Authorized Dealers to generate forms in standard paper sizes and apply to import transactions under Buyer’s or Supplier’s credit.
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