Regulatory Alerts2024-10-02
Added · Updated
FEPD Circular No. 17: Enhancement of the scope of remittance for academic/research related subscription
The remittance limit for subscription fees of academic software and cloud-based educational services is increased to 15,000 US dollars or equivalent per institution per calendar year. This allowance applies to public universities, medical colleges, recognized national research and training institutions, University Grants Commission approved private universities, and Government approved private medical colleges. Authorized Dealers must obtain invoices and other relevant documents upon confirmation of authenticity and ensure strict compliance with tax regulations. Routine reporting to Bangladesh Bank and adherence to AML/CFT standards remain required.
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