RegAlert

Rule · BB · 8 Jul 2019

FEPD Circular No. 27: Deduction of Tax at Source on Interest Payable on Non-Resident Foreign Currency Deposit Account

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Paragraph 15, chapter 13 of the Guidelines for Foreign Exchange Transactions-2018 (GFET), Vol-1, which previously exempted interest on Non-Resident Foreign Currency Deposit (NFCD) accounts from tax under the Income Tax Ordinance, is repealed. This repeal follows the revocation of National Board of Revenue S.R.O 415-L/82 dated 13 December 1982 by S.R.O 216-AIN/Income Tax/2019 dated 23 June 2019. All other instructions regarding this matter remain unchanged.

BangladeshBangladesh Bank

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka www.bb.org.bd
FE Circular No. 27 Date: 08/07/2019
All Authorized Dealers in
Foreign Exchange in Bangladesh
Dear Sirs,
Deduction of Tax at Source on Interest Payable on Non-Resident Foreign Currency Deposit Account. Please refer to paragraph 15, chapter 13 of the Guidelines for Foreign Exchange Transactions￾2018 (GFET), Vol-1 which exempts interest on deposits into Non-Resident Foreign Currency Deposit (NFCD) Account from the tax payable under Income Tax Ordinance. This instruction is incorporated in GFET in accordance with National Board of Revenue S.R.O 415-L/82 dated 13 December 1982 which has been repealed vide S.R.O 216-AIN/Income Tax/2019 dated 23 June 2019. Accordingly, instruction of paragraph 15, chapter 13 of GFET shall stand repealed. Other instructions in this regard shall remain unchanged. Please bring the above instruction to the notice of all concerned constituents. Yours faithfully, (Mohammad Khurshid Wahab) General Manager Phone: 9530123

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S.R.O No. 216-AIN/Income dated2019-06-23Not in RegAlertS.R.O No. 216-AIN/Income dated 2019-06-23 — Not in RegAlertFEPD Circular No. 27:Deduction of Tax at Source on…2019-07-08 · this documentFEPD Circular No. 27: Deduction of Tax at Source on Interest Payable on Non-Resident Foreign Currency Deposit Account (2019-07-08)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (1)
Supersedes
  • S.R.O No. 216-AIN/Income dated 2019-06-23Not in RegAlert

    “which has been repealed vide S.R.O 216-AIN/Income Tax/2019 dated 23 June 2019. Accordingly, instruction of paragraph 15, chapter 13 of GFET shall stand repealed.”

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