RegAlert

Rule · BB · 8 Aug 2022

FEPD(Remi:-1)/1/2022-3968: Regarding Publicity and Taking Action on Offshore Tax Amnesty in Accordance With Income Tax Ordinance

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The Foreign Exchange Policy Department of Bangladesh Bank directs all scheduled banks operating in Bangladesh to widely publicize the offshore tax amnesty program and take necessary actions to promote it among customers. This directive implements the provisions of Section 19R of the Income Tax Ordinance, 1984, as amended by the Finance Act, 2022, which allows taxpayers to declare undisclosed income held abroad by paying a 7% tax. The declaration period for this amnesty runs from July 1, 2022, to June 30, 2023, and banks are instructed to disseminate information consistent with previous circular FE Circular No. 26 dated July 18, 2022.

BangladeshBangladesh Bank

Foreign Exchange Policy Department
Bangladesh Bank
Head Office
Dhaka.
Ref. No. FEPD(Remi:-1)/1/2022-3968
Date:
24 Srabon, 1429
08 August, 2022

To,
Managing Director/Chief Executive Officer
All Scheduled Banks Operating in Bangladesh
Head Office
Dhaka.

Dear Sir,

Regarding Publicity and Taking Action on Offshore Tax Amnesty in Accordance With Income Tax Ordinance.

It is stated that under the Finance Act, 2022, pursuant to Section 19R of the Income Tax Ordinance, 1984, during the period from July 1, 2022, to June 30, 2023, income tax returns declaring any undisclosed income brought into Bangladesh legally through banking channels by paying a 7% tax can be filed. It is mentioned that an EF Circular No. 26 dated July 18, 2022, regarding this matter has already been issued by Bangladesh Bank.

It is advised to take measures for widespread publicity among customers by disseminating the offshore tax amnesty rules in the form of a branch circular.

Yours faithfully,
(Md. Sarowar Hossain)
Director (FEPD)
Phone: 9530123

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Finance Act, 2022Not in RegAlertFinance Act, 2022 — Not in RegAlertIncome Tax Ordinance, 1984Not in RegAlertIncome Tax Ordinance, 1984 — Not in RegAlertMentions (1)a document this one mentionsopen the list below the graph ▾Mentions (1): a document this one mentions without changing it — open the list below the graphFEPD(Remi:-1)/1/2022-3968:Regarding Publicity and Takin…2022-08-08 · this documentFEPD(Remi:-1)/1/2022-3968: Regarding Publicity and Taking Action on Offshore Tax Amnesty in Accordance With Income Tax Ordinance (2022-08-08)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (2)
Issued under
  • Finance Act, 2022Not in RegAlert

    “under the Finance Act, 2022, pursuant to Section 19R of the Income Tax Ordinance, 1984”

  • Income Tax Ordinance, 1984Not in RegAlert

    “under the Finance Act, 2022, pursuant to Section 19R of the Income Tax Ordinance, 1984”

Mentions (1): 1 document this one mentions without changing it
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