Regulatory Alerts2016-04-11
Added · Updated
FEPD Circular No. 13: Cash incentive against export of Furniture
The document establishes a 15% cash incentive on the net FOB value for furniture exported from own factories, effective from the date of issuance for shipped goods. Eligible exporters must submit Form 'K' to authorized dealer banks within 180 days of export proceeds repatriation, accompanied by a certificate from the Bangladesh Furniture Exporters Association confirming local sourcing and the absence of duty drawback or bond facility usage. The process requires verification by external audit firms, submission of claims to the Bangladesh Bank via Form 'G', and maintenance of records for at least three years, with penalties imposed for irregular payments or false information.
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