Regulatory Alerts2020-03-16
Added · Updated
STD Circular Letter No. 01: Regarding Remittance Reporting received from Bangladeshi Mariner/ Aircraft Pilot
This circular mandates that remittances sent by Bangladeshi mariners and aircraft pilots working for foreign shipping or airline companies (excluding government-owned entities) must be reported under Invisible Income (IDFB-5), specifically code IDFB-3020, in the relevant schedule of the Statistics Department. This reporting requirement applies to funds received as foreign income and remains in effect as per the Statistics Department's guidelines. Authorized dealers are instructed to inform all concerned parties about this specific reporting obligation.
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