Abstract/Citation: The Act amends the Bangladesh Export Processing Zones Authority Act, (Act No. XXXVI of ) with respect to. BEPZA Act which eventually instituted the formation of Bangladesh Export Processing. Zones Authority (BEPZA), the government organ. investment, and investment under BOI, investment under BEPZA, FDI and investment . Under, the BEPZA Act. , EPZs are provided infrastructural facilities.
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Tax holiday facility can be availed by industries set up in Bangladesh within June 30, A. This site uses Akismet to reduce spam. The quantity and value of samples is determined jointly by the concerned sponsoring agency and the National Board of Revenue NBR. Incentives to non-resident Bangladeshis: BEPZA has been striving hard to upgrade its operational efficiency to a level which would cater the diversified needs of the investors.
Short title and commencement. IX of to A. Learn how your comment data is processed. Tax exemption on capital gains from the transfer of shares of public limited companies listed with a stock exchange.
A copy of the foreign loan agreement signed by both parties should be submitted to BOI for registration. The entrepreneur will then approach nominated bank for opening Letters of Credit for import. Export-oriented industries are allocated foreign exchange for publicity campaign and for opening offices abroad.
Apart from export earning objectives, employment pattern shows that EPZs have been making significant contribution to the gradual empowerment of women which supports the objective of Millennium Development Goal MDG. A recent study suggests that in FY EPZs have induced economic benefit equivalent to 6, crore taka to our economy.
Print Edition Read pdf version Subscribe now. Non-resident direct investment in industrial enterprises and non-resident portfolio investment through stock exchanges also do not require prior approval of Bangladesh Bank.
Bangladesh Export Processing Zones Authority Act, (Act No. XXXVI of ).
Conclusion With the changing global business and investment scenario the EPZs of Bangladesh have revised its expansion strategy beppza in tune with the varied needs of the present day businesses Bangladesh EPZ Authority BEPZA is customizing its investment incentives and facilities. Prior approval of BOI is required for the proposals which do not fall within the aforesaid guide-lines.
Power to exempt Zones from operation of certain laws. Import Registration Certificate IRC will be issued by the concerned authority in favour of the industrial enterprises within 30 days of receiving applications. Establishment of the Authority. Industries which export percent of their products are given tax exemption up to percent. Presently there are as many as vepza operational EPZs and two proposed EPZs in different locations of the country contributing to the overall economic development process of Bangladesh through promotion of export and FDI, generation of employment, transfer of technology, and development of forward and backward linkage industries and so on.
An Attractive Investment Destination.
Objects of the Authority. Since than EPZs, in tune with the liberal industrial policy of the government along with investment friendly legal and institutional framework like Foreign Private Investment Promotion and Protection Aacthave made significant progress. The role of the government has been changed from regulatory to promotional. Non-resident Bangladeshi cat will enjoy facilities similar to those of foreign investors. The eligibility of tax holiday is to be determined by the NBR.
Other industries in developed areas: Balances in these foreign currency accounts can be used by the exporters for bonafide business purposes such as business visits abroad, participation in export fairs and seminars, import of raw materials, machinery and spares etc. To avail of the facilities and services provided by the BOI for setting up of industries the procedures mentioned below are to be followed by the entrepreneurs.
XV of to Ordinance No. An entrepreneur, either local or foreign, can set up an industry with public sector corporation. For granting export performance benefit, the list of export products and the rate of Export Performance Benefit XPB is reviewed from time to time. IV of to E.
Guide to Invstment in Bangladesh Foreign Private Investment (Promotion and Protection) Act, 1980
Increasing FDI in the manufacturing activity has important bearing on the development of market access skill and transfer of technology. Remittance of profits to their head offices by foreign firms and companies operating in Bangladesh.
WHEREAS it is expedient to make provision for the establishment of the Bangladesh Export Processing Zones Authority for creation, development, operation, management and control of export processing zones and for matters connected therewith; It is hereby enacted as follows: Apart from the above mentioned facilities, other facilities as announced and provided in the Export Policy are also applicable for export-oriented and export-linkage industries.
Opening up of new sectors of investment have provided an excellent opportunity to prospective investors. Power to make rules. Funds from these accounts may also be used to set up offices abroad without prior permission of Bangladesh Bank. Export oriented industries are exempted from paying local taxes such as municipal taxes. Minimum 70 per cent export oriented industries in developed areas: Local products supplied to local projects against foreign exchange under international tender are treated as bepzz exports and the producer is entitled to avail all bepaz facilities.
IV of to Act No. XXI of to Act No. After a first hand scrutiny of the information, BOI issues registration letter. LV of Ordinance No. As a social workers visited US. Procedure for obtaining work permit.
In such cases the entrepreneurs are required to submit relevant papers and information in connection with the land to be acquired by the Deputy Commissioners D. Remittance of dividend on portfolio investment by non-residents through stock exchanges in Bangladesh. VIII of E. Tax exemption on bfpza, technical know — how fees received by any foreign collaborator, firm, company and expert.
I am deeply impressed to take part with implementing works.