FEPD Circular No. 14: Remittance on account of bonus by foreign nationals working in Bangladesh

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 14 Date: 22 March 2020 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Remittance on account of bonus by foreign nationals working in Bangladesh Please refer to paragraph 8(a), chapter 11 of Guidelines for Foreign Exchange Transactions-2018, Vol-1 in terms of which foreign nationals are permitted to make monthly remittances to the country of their domicile up to 75 percent of their net income. Besides, paragraph 8(d) allows to include net amount of bonus or commission actually paid by the employers by spreading over the subsequent twelve months as a part of current remittances. 02. To facilitate the remittance on account of bonus, it has been decided that foreign nationals can remit upto 75% of their bonus after deduction of applicable taxes and payment thereof at one-go without spreading over the subsequent 12 months. Foreign nationals, however, can exercise prevailing regulations at their options. Other instructions in this regard shall remain unchanged. Please bring the above instructions, effective immediately, to notice of your concerned constituents. Yours faithfully,

(Mohammad Khurshid Wahab) General Manager Phone: 9530123