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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Post Sanction Clearance Committee. Exemption of income tax up to 3 years for the foreign technicians employed in industries specified in the relevant schedule of income tax ordinance.
Since independence Bangladesh has made remarkable progress in diversified areas of social, political, cultural and economic life of its citizen. Incentives to non-resident Bangladeshis: Other industries outside developed areas: Remittance of sale proceeds including capital gains of portfolio investments of non-residents through stock exchanges in Bangladesh.
Allotment of land etc. Absorption of huge unskilled and skilled work force in the export-driven labor-intensive manufacturing sector of EPZs have facilitated rapid industrialization process and accelerated the real economic growth. III of Act No. Duties and taxes on import of goods which are produced locally will be higher than bspza applicable to import of raw materials for producing such goods.
Entire export earning from handicrafts and cottage industries is exempted from income tax. For exports of items with high import content such as naphtha, furnace oil and bitumen, ready made garments, electronic goods etc. Non-resident Bangladeshi investors will enjoy facilities similar to those of foreign investors. Objects of the Authority.
Once abandoned projects are now vibrating with activity. After receiving the application BOI provides assistance to get the industrial plot. Following its unprecedented success the second one came into being in in Dhaka. No permission is required for import of free list items. Tax holiday is allowed to industries at the following periods according to the location of the establishment:.
Guide to Invstment in Bangladesh Foreign Private Investment (Promotion and Protection) Act, 1980
190 The eligibility of tax holiday is to be determined by the NBR. LVI of to Ordinance No. Functions of the Board. Procedure for obtaining work permit. Dishonour of Cheque — Section of the Negotiable instruments Act.
Bangladesh Export Processing Zones Authority Act, (Act No. XXXVI of ).
The quantity and value of samples is determined jointly by the concerned sponsoring agency and the National Board of Revenue NBR.
For expatriate employment the guide-lines followed are:. Local products supplied to local projects against foreign exchange under international tender are treated as indirect exports and the producer is entitled to avail all export facilities.
After independence, the stagnant economy of the war-ravaged country was desperately seeking private capital, technical know-how to facilitate the industrialization process to achieve 19880 growth. Investors may obtainrelevant procedural details by contacting any Authorised Dealer bank in Bangladesh. Power to make regulations. For any public sector which makes contribution out of their own fund needs approval of the concerned ministry.
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. V of to Act No. Encouraging foreign investment in Bangladesh. However, import duty 7. Terms of sanction, etc. The direct employment opportunities for more thanBangladeshi nationals have also been created in the EPZ units constituting 64 percent of the total work force from female category.
No prior permission of BOI is required for entering into agreements for remitting fees for the purpose of royalty, technical know-how and technical assistance if the total fees and other expenses connected with technology transfer service fee, marketing commission etc.