Regulatory Alerts2016-11-24
Added · Updated
FEPD Circular No. 29: Export subsidy against export of locally produced paper & paper-products
The document establishes a 10% export subsidy on the net FOB value for locally produced paper and paper products, effective from the date of issuance for shipped goods. Eligible exporters must apply using Form-K within 180 days of export proceeds repatriation, providing certification from the Bangladesh Paper Mills Association and proof that no duty drawback or customs bond facilities were used. Approved dealer banks must verify applications, obtain audit firm certification, and submit claims to the Bangladesh Bank, while retaining records for at least three years. Non-compliance results in the recovery of paid subsidies and disciplinary action against involved bank officials or association members.
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