Currency Regulations for Export / Import
All types of dealings in foreign exchange are guided by The Foreign Exchange Regulation Act 1947, which is administered by Bangladesh Bank. To download the Act, click here.
To download details on various regulations and guidelines related to foreign exchange, please visit Bangladesh Bank website (www.bb.org.bd).
Procedures relating to imports using foreign exchange are guided by the provisions laid down in The Import Policy Order, 2015-2018 (Chapter 2).
To download the Import Policy Order, click hereor visit the Ministry of Commerce website (www.mincom.gov.bd)
Currency Regulations for Travelers / Passengers
a. Foreign currency a person can take out of Bangladesh
An adult passenger can take out up to US$ 12,000 during a calendar year for global private travel. Out of that amount, up to US$ 5,000 or equivalent for travel to SAARC member countries and Myanmar and up to US$ 7,000 or equivalent for travel to other countries.
For minors (below 12 years in age) the applicable quota will be half the amount admissible for adults.
However, foreign exchange (taken out from Bangladesh) in the form of cash must not exceed US$ 5,000 per person per trip. (Ref. FE Circular No. 17 of 06/04/2014 and FE Circular No. 02 of 11/02/2015)
To download the relevant Bangladesh Bank circulars,click on the download link.
b. Foreign currency a person can bring into Bangladesh without declaration
Any amount of foreign currency may be brought in by an incoming passenger with declaration to thecustoms authorities in Form FMJ. No declaration, however, is necessary for amounts uptoUS$ 5000/= or equivalent. However, a person bringing in foreign exchange exceeding US$ 5000 or equivalent will have to declare the amount to the Customs authority.
For a foreigner, the entire amount brought in with declaration or uptoUS$ 5000/= brought in without declaration may be taken out freely at the time of departure.Upto US$ 5000/= brought in without declaration by a Bangladeshi may also be retained and taken outfreely while proceeding abroad.
To download the FMJform click here.
c. Bangladesh currency/taka a person can bring into or take out of Bangladesh without declaration
Without giving a declaration (in the form specified by Bangladesh Bank) to the Customs Authority, a person/passenger can bring in from abroad or take out from Bangladesh Tk. 5000. (Ref. FE Circular No. 05 of 30/01/2014)
To download the relevent circular, click here.
FAQs
In Bangladesh The National Board of Revenue (NBR) is the only authority to provide TIN Certificate to the applicant. One can either obtain TIN Certificate in Bangladesh manually or electronically by applying to NBR. When you obtain the TIN Certificate in Bangladesh through electronically it is called E-TIN.
How to pay tax online in Bangladesh? ›
If you want to pay income tax as a 'Self user, click the e-Payment link, go to Income Tax and click Pay Income Tax Online. Your TIN & Name will appear automatically from profile section. Select taxes zone, taxes circle, tax type and tax section. Account code will appear automatically.
What is the role of NBR in Bangladesh? ›
The main responsibility of NBR is to collect tax revenues (primarily, Value Added Tax, Customs Duty, Excise Duty and Income Tax ). It works with three tax-type wings namely, Customs Wing, VAT Wing and Income Tax Wing.
How to submit a tax return online in Bangladesh? ›
Go to the NBR official website and select 'eReturn', the second option from the left. Additionally, you can go to www.etaxnbr.gov.bd, the online income tax return filing system. Next, enter your TIN, password, and captcha before selecting “Sign in.” You will be presented with a dashboard after logging into the portal.
What documents are required for income tax return in Bangladesh? ›
(a) Salary statement for salary; Bank statement for interest; Certificate for interest on savings instruments; Rent agreement, receipts of municipal tax & land revenue, statement of house property loan interest, insurance premium for house property income; Statement of Professional income as per IT Rule-8; Copy of ...
How to get a tax clearance certificate in Bangladesh? ›
Application for TCC: Submit an application for a Tax Clearance Certificate to the appropriate tax office, along with the required documents and fees. 4. Verification and assessment: The tax office will verify the information provided and assess the applicant's tax liabilities.
How can I get my tax information online? ›
The best way to quickly get information about your IRS account is to request a transcript from the IRS. You can request transcripts at IRS.gov or by calling the IRS at (800) 908-9946.
How to check income tax? ›
Step 1: Go to the e-Filing portal homepage. Step 2: Click Income Tax Return (ITR) Status. Step 3: On the Income Tax Return (ITR) Status page, enter your acknowledgement number and a valid mobile number and click Continue.
How do I verify my income tax return? ›
Go to Identity and Tax Return Verification Service to verify your identity and the tax return, you must let us know if you did or didn't file. It's quick, secure, and available 24 hours a day. You must register on the website before verifying your identity.
What is the non NBR tax revenue collection in Bangladesh? ›
3,89,000 crore in FY 2021-22, which is 9.78 percent of the GDP. Of them, revenue receipt from NBR sources was marked at Tk. 3,30,000 crore (8.30% of GDP), tax revenue from non-NBR sources at Tk. 16,000 crore (0.40% of GDP) and non-tax revenue at Tk.
NBR is the abbreviation for nitrile butadiene rubber. This is a synthetic rubber that was developed during the 1930s. It is fabricated through the co-polymerization of acrylonitrile (ACN) (polar building block) and 1.3-butadine (nonpolar building block).
What is the penalty for filing income tax in Bangladesh? ›
Where a person fails to file a return The DCT may impose penalty @10% of the tax levied on the last assessed income or Tk. 1,000/- whichever is higher and if the failure continues, the DCT may impose of Taka 50/- for every day during which such failure continues.
What is the income tax rate for foreigners in Bangladesh? ›
Rates: Individual income tax rates for residents are progressive from 0% to 25%, and nonresidents are taxed at a flat rate of 30%.
What is the minimum salary to pay income tax in Bangladesh? ›
1st Slab: If your income is 350,000 or less, you don't pay any tax; it's tax-free. But if you earn more, you'll only be taxed on the amount over 350,000. In this example, any income up to 350,000 is tax-free, and the rest, up to 600,000, isn't taxed.
How can I get my e tin certificate in Bangladesh? ›
Getting a TIN certificate is a very simple task. No need to go to any office for this. You can just go to the NBR website and fill in the necessary information, such as your mobile number and national identity card, and you can get the e-TIN number at home.
How do I get a PDF tax form? ›
You can download a PDF of the 1040 tax form on the IRS website. If you hire a tax preparer to help you, they might also provide the form.
Can I file an income tax return online? ›
You can file and submit your ITR through the following methods: Online Mode – through e-Filing portal. Offline Mode – through Offline Utility.
What is AIT in Bangladesh? ›
Advance Tax imposable value = VAT imposable value. Example: 25% Import Duty (ID), 3% Regulatory Duty (RD), 20% Supplementary Duty (SD), 15% VAT, 3% Advance Tax (AT), 5% Advance Income Tax (AIT) are already levied on import of any goods.
