Regulatory Alerts2024-11-27
Added
FEPD Circular No. 33: Cash incentive against export of leather and leather goods
The Foreign Exchange Policy Department amends sub-paragraph (g) of FEPD Circular No. 05 dated May 04, 2011, to specify conditions for disbursing cash incentives against export of leather and leather goods against advance payments received via TT. The amendments require that foreign exchange must be repatriated from the destination country and, if received from a different country, the bank must verify the source of funds (excluding exchange houses) and confirm shipment via an approved tracking system or Customs Exporter General Manifest. These instructions apply to goods shipped from the date of issuance and do not apply to pending matters or cases with audit objections.
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