6% Cash Incentive Certification

Why Cash Incentive?

In an effort to diversify, the government has been providing cash incentives to promote emerging and new sectors having export potential. As a result, government agreed to give 6% Cash Incentive to the Exporter of IT/ITES Sector spreading business and increasing national revenue repetitively.

IT/ITES Sector Enabled services:

Business Process Outsourcing (BPO), Digital Content Development and Management, Animation (both 2D and 3D), Geographic Information Services (GIS), IT Support and Software Maintenance Services, Website Services, Data entry, Data Processing, Call Centre, Graphics Design (digital service), Search Engine Optimization, Web Listing, E-commerce and Online Shopping, document conversion, imaging and archiving, Website Development, Website hosting, Digital data analytics, Software test lab services, Overseas medical transcription, Robotics process outsourcing, Cyber security services.

BACCO Certification:

Certification means that the client is a genuine exporter and eligible for getting cash incentive for his claimed total export value. It is also certified that the authority checked all the necessary documents and received an undertaking from the applicant regarding this. Bangladesh Association of Contact Center & Outsourcing (BACCO) will provide the Cash Incentive Certificate for exporting BPO and IT/ITES Sector in Bangladesh.

Application criteria for the certificate:

BACCO Member (General and Associate) and also Non-BACCO Member are eligible for applying for the Cash Incentive Certificate.
NOTE: The application only accepted from the Bangladeshi BPO, IT/ITES Exporter only.

Verification process:

BACCO authority will conduct a preliminary verification for certification purpose but, Bangladesh Bank & Authorized Dealer Bank will do ultimate verification where the bank will then conduct an audit of the firm. After the audit, the firm will place a certificate to a branch of the bank and the branch will forward it to the bank's head office. 

Receiving the certificate, the bank places it to the Bangladesh Bank and the central bank disburses the incentives in four quarters to the exporters at a rate as declared.

BACCO Service Fee Chart to get Certificate:

The categorical service fee per file is mentioned below, determined by Export transaction (Value) Size:

Document Checklist to get the Certificate:

The applicants will have to submit few specific documents for getting the Cash Incentive Certificate. Those are as follows

1. Forwarding Letter addressing BACCO President.
2. Export Work Order/Sales Contract/Agreement and Internal Memo (MoU) (Email Correspondence/ Online Notification).
   
3. Commercial Invoice related to Export.
4. Format-A: CERTIFICATE OF AUTHORIZED DEALER (last page, FE Circular No.-03, Bangladesh Bank) issued by Bank and PRC.
   
5. Form-C or ICT Form- C
   
6. SWIFT Copy
   
7. Applicant Company’s undertaking.
   
8. Form- Ka (Bangladesh Bank)
   
9. Form- Kha (Bangladesh Bank)
   
10. Form-Ga (Bangladesh Bank)
    
11. Form-Gha (Bangladesh Bank)
    
12. Others (asked by Bank/Audit/BACCO)