Regulatory Alerts2018-06-10
Added · Updated
FEPD Circular No. 16: Export subsidy against export of Active Pharmaceuticals Ingredients (API)
The document establishes an export subsidy scheme for Active Pharmaceutical Ingredients (APIs) manufactured in Bangladesh, effective for goods shipped from the 2017-2018 fiscal year. It grants a subsidy equal to 20% of the net FOB value to manufacturers exporting APIs produced in their own factories, excluding those located in Export Processing Zones (EPZs) or Investment Zones (IZs). Recipients must ensure a minimum of 20% local value addition and are prohibited from simultaneously claiming export subsidies alongside duty drawback or bond facilities. Approved dealer banks must verify applications, including local value addition certificates and audit reports, and submit claims to the Bangladesh Bank within specified timelines, with penalties for non-compliance.
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