Regulatory Alerts2020-03-22
Added · Updated
FEPD Circular No. 14: Remittance on account of bonus by foreign nationals working in Bangladesh
Foreign nationals working in Bangladesh are permitted to remit up to 75% of their bonus, after deduction of applicable taxes, in a single lump sum payment without spreading the amount over subsequent twelve months. This decision modifies previous guidelines that required such bonus amounts to be included in current remittances spread over twelve months. Foreign nationals retain the option to exercise the prevailing regulations instead of this new provision. The instructions are effective immediately for all Authorized Dealers of Foreign Exchange in Bangladesh.
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