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Date: 20 June 2023
The Director (Commercial)
Bangladesh Investment Development Authority (BIDA)
Prime Minister’s Office
E-6/B Agargaon, Sher-e-Bangla Nagar,
Dhaka-1207.
Subject: Re-application for waiver of BIDA condition no. 8 (Seeking approval of sending outward remittance).
Dear Sir,
We, JGC Corporation have a Branch Office in Bangladesh (BIDA permission Ref No: 03.219.344.00.00.0000.2567.15102019). We have renewed the BIDA permission which is effective from 31.10.2022. (Ref No: OPE-23Oct2022-00001).
I would like to inform you that, JGC Corporation (Branch office) is earning profit locally (Net Profit After Tax BDT 44,629,248.00 in the Financial Year 2021-2022) and the necessary expenditure of the company in Bangladesh is meeting up with that profit. There are some surplus amounts after the expenditures. And we are willing to resend the money to our principal office but as per condition no. 8 of the permission letter, outward remittance of any kind from Bangladesh sources will not be allowed. But the headquarter of JGC Corporation is willing to take the profit which is generated by the Branch Office.
Hence, we need the exemption of condition no. 8 of the Branch Office permission letter.
Therefore, it is highly requested to send take the necessary action to provide the approval of waiver of condition 8 in pursuance to condition 9 of the permission letter.
Sincerely yours,
√
_________________
Ryosuke Kashima
General Manager
JGC CORPORATION
(Bangladesh Branch Office)
Enclose:
Copy of office permission. (all)
Waiver 7 copy
BB 18B intimation letter
Updated Audit Report
Acknowledgement of Income Tax Receipt AY 2022-2023