Regulatory Alerts2020-11-19
Added · Updated
FEPD Circular No. 50: Remittance against current account transactions
The regulation expands the scope of outward remittances for industrial enterprises and service sector industries by including legitimate current account payments such as audit, certification, commissioning, testing, and valuation fees within the existing one percent of annual sales limit. This facility applies equally to industrial enterprises in domestic processing areas of Export Zones, requiring Authorized Dealers to utilize foreign currency account balances before converting Taka funds. Authorized Dealers must ensure compliance with tax deductions, VAT, and other levies, and must verify that excluded payments do not require permission from competent authorities.
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