Regulatory Alerts2025-08-14
Added
FEPD Circular No. 33: Foreign Exchange Regulations regarding Import Transactions
This circular compiles and modifies existing foreign exchange regulations for import transactions, repealing instructions in GFET-2018 Vol-1 and subsequent circulars except for monthly reporting in Vol-2. It mandates Authorized Dealers to report all permissible import transactions to the Online Import Monitoring System, with large imports of USD 3.00 million or more requiring reporting 24 hours prior to LC opening. The document establishes requirements for IMP Form declarations, HS Code usage, LC terms, and remittance procedures, remaining valid for one year from issuance.
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