SD Circular No. 05: Allocation of new codes for Invisible Receipts and Payments in foreign exchange reporting

Statistics Department Bangladesh Bank Head Office Dhaka www.bb.org.bd St.d. Circular no:05 Date:16/09/2014 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Allocation of new codes regarding Invisible Receipts (Code-5) and Invisible Payments (Code-7) for reporting foreign exchange transactions as per the guideline titled “Code list for reporting of external sector transactions by the authorized dealers” (2012-edition) In order to facilitate separate reporting for Receipts / deposits from abroad in F. Cy accounts of foreign nationals residing in Bangladesh and Payments against Maintenance services of telecommunication , Vendor or any other supervision Charges or fees, Maintenance services of machineries & equipments etc., new codes have been allocated in the chapter Invisible Receipts (Code-5) and Invisible Payments (Code-7) as per the guideline titled “Code list for reporting of external sector transactions by the authorized dealers” (2012-edition). All ADs have been requested to report to Bangladesh Bank as per allocated new codes (Annexure-A, Annexure-B). Please bring the contents of this circular to the notice of all concerned. Enclosure: As stated Yours faithfully’ Md. Mohib Ullah Miah Deputy General Manager Phone:9530087

Annexure-A INVISIBLE RECEIPTS Code-5 Code No. Purpose Explanatory Notes Comment 51 Financial corporations, non-financial corporations, households and Nonprofit Institution Serving Households ( NPISHs) 511 Personal Transfers 5110 Personal transfers other than workers' remittances. Existing code 5111 Receipts from Non-resident Bangladeshi (NRB) through Money Changers' Existing code 5112 Receipts/ deposits from abroad in F. Cy accounts of foreign nationals residing in Bangladesh. Receipts/ deposits from abroad in F. Cy accounts of foreign nationals residing in Bangladesh as per salaries or others New code Annexure-B INVISIBLE PAYMENTS Code-7 Code No. Purpose Explanatory Notes Comment 20 Telecommunications 201 Telecommunication Services 2010 Telecommunication services Existing code 2011 Maintenance services of telecommunication Payments to abroad against maintenance services of telecommunication network /machineries equipments etc ( Excluded are installation services for telephone network equipment which are included in construction services and transportation , computer maintenance and machineries equipments of mills, plants, factories, etc.) New code 27 Other business services 273 Misc. Business professional and management consulting services, and Technical Services 2738 Vendor or any other supervision Charges or fees Payments to abroad against vendor or any other supervision Charges or fees , inspection fees etc.(excluding Pre￾shipment inspection fees – code: 2712 and vendor fees or charge of software￾code: 2410) New code 2739 Maintenance services of machineries equipments etc Payments to abroad against maintenance cost of machineries equipments of mills, plants, factories, etc. (excluding transportation, telecommunication and computer maintenance services.) New code