Regulatory Alerts2017-12-14
Added · Updated
FEPD Circular No. 43: Collection of Demurrage, Detention, Handling or equivalent charges by the foreign shipping lines/ their agents as source of fund for calculation of their remittable surplus
Foreign shipping lines and their agents operating in Bangladesh must now include demurrage, detention, handling, and equivalent charges in the calculation of their remittable surplus, subject to the deduction of taxes and commissions. Authorized Dealers in Foreign Exchange are required to ensure that these entities incorporate these charges into the revised Form Shipping-I and submit it with their quarterly returns to Bangladesh Bank. Additionally, import/export manifests and Bill of Lading Statements must be prepared specifying these charges and attached to the revised form.
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