Regulatory Alerts2020-09-03
Added · Updated
SPA Circular No. 01: Remittance of surplus earnings by foreign airlines operating in Bangladesh
Surplus earnings for foreign airlines operating in Bangladesh may now be calculated based on passage and freight collections, requiring a minimum 10 percent provision for refunds and remittance from non-borrowed funds in designated bank accounts. The requirement for Form P or Form P-2 from outgoing passengers is revoked, and IATA member airlines must submit IATA system-generated billing summaries and settlement reports instead of previous statement formats. Non-IATA member airlines follow these rules except for the specific reporting requirements for IATA members, while all entities must retain tax and disbursement documents for inspection upon request.
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