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💻BB FEPD Circular 01/2022 & Income Tax Act 2023

Freelancer ITES Export & ERQ Account Hub

Maximize your digital export earnings with live TT Clean banking rates, 4% Government Cash Subsidies, up to 70% foreign currency retention in ERQ accounts, and 100% tax exemption under Income Tax Act 2023.

বাংলা সংস্করণ (Bengali)Tax Return Simulator
🇧🇩BB 4% Cash Incentive & ERQ Engine

Freelancer ITES Export Incentive & ERQ Calculator

Calculate live TT Clean payouts, 4% statutory cash subsidies, ERQ foreign currency retention, and payment gateway fees.

⚙️Payout Details & Transfer Channel

$
0% USD (100% to BDT)
0% (১০০% টাকায় রূপান্তর)৩৫%৭০% (সর্বোচ্চ অনুমোদন)
Total Net Realized Payout100% Tax Exempt
BDT 182,776

Effective Rate: BDT 121.85 per USD (Net realized)

Gross Converted BDT:BDT 175,746
🎁4% Govt Cash Incentive:+BDT 7,030
Gateway Fees & Spread:-BDT 6,504 ($31.5)
Income Tax Deduction (0% ITES):৳০ (Exempted)
📜Statutory & Compliance Reference

Under BB FEPD Circular 01/2022 and ITA 2023 6th Schedule Part A Para 21, your ITES earnings are 100% tax exempt and entitled to 4% cash subsidies when remitted through banking channels.

Compliance Status:
100% statutory tax exemption on approved ITES export earnings (0% tax)Valid ✓
4% Government cash incentive eligibility via authorized banking channelsValid ✓
Annual tax return submission & PSR certification under ITA 2023 s.264Valid ✓
Valid e-TIN registration and active taxpayer statusValid ✓
Compliance with Bangladesh Bank 70% ERQ foreign currency retention capValid ✓

🏦Top Bangladeshi Banks for Freelancers & ERQ Accounts

Banks offering 70% USD retention, dual-currency cards, and streamlined 4% cash incentive disbursement

The City Bank PLC

City Freelancer Account & ERQ

70% ERQ Retention
Dual Card Limit$30,000/yr
Annual Card Fee৳1,000
✓70% foreign currency retained in ERQ
✓Instant encashment via CityTouch App
✓Visa Platinum Dual Currency Debit Card
✓Automated 4% cash incentive processing
Routing Support:
SWIFTPayoneer DirectWise

BRAC Bank PLC

BRAC Bank Freelancer Account & ERQ

70% ERQ Retention
Dual Card Limit$35,000/yr
Annual Card Fee৳1,150
✓Zero minimum opening balance
✓Up to 70% USD retention in ERQ
✓Instant card load via Astha App
✓BASIS & Payoneer strategic partnership
Routing Support:
SWIFTPayoneerWiseUpwork Direct

Eastern Bank PLC (EBL)

EBL Freelancer Account & ERQ

70% ERQ Retention
Dual Card Limit$30,000/yr
Annual Card Fee৳1,000
✓EBL Aqua & Skybanking ecosystem
✓ERQ retention in both USD and EUR
✓Seamless international SaaS/Server payments
✓Fastest 4% incentive disbursement
Routing Support:
SWIFTPayoneerWise

Bank Asia PLC

Bank Asia Swadhin Freelancer Card

70% ERQ Retention
Dual Card Limit$30,000/yr
Annual Card Fee৳800
✓Pioneering Swadhin Freelancer Card in BD
✓Direct Payoneer bank partnership
✓70% foreign currency retention limit
✓Nationwide branch and agent banking network
Routing Support:
SWIFTPayoneer DirectWestern Union

Dutch-Bangla Bank PLC

DBBL Freelancer Matrix Account

70% ERQ Retention
Dual Card Limit$25,000/yr
Annual Card Fee৳800
✓NexusPay app integration
✓Direct transfer to Rocket mobile wallet
✓Automated 4% cash incentive form processing
Routing Support:
SWIFTRocketPayoneer

Islami Bank Bangladesh PLC

IBBL Mudaraba Freelancer Account

70% ERQ Retention
Dual Card Limit$25,000/yr
Annual Card Fee৳900
✓100% Shariah compliant Mudaraba savings
✓4% Govt cash incentive on Halal IT earnings
✓CellFin app for instant dual-currency management
Routing Support:
SWIFTiReckonPayoneer

📚Freelancer Banking & Tax Compliance Guides

In-depth compliance guides with statutory references to Bangladesh Bank & NBR regulations

Incentives & Subsidies6 min read

How to Claim Bangladesh Bank 4% Cash Incentive on Freelancer Income

Comprehensive guide on claiming the 4% Government Cash Incentive on IT & ITES export earnings under Bangladesh Bank FEPD circulars.

Read Guide→
Banking & Foreign Exchange5 min read

What is an ERQ Account? How Freelancers Can Retain 70% in Foreign Currency

Official guidelines on opening Export Retention Quota (ERQ) accounts to hold up to 70% in USD/EUR and issue international debit cards.

Read Guide→
Platform Comparison7 min read

Best Withdrawal Methods for Upwork & Fiverr: Payoneer vs Wise vs Direct Bank

Comparative analysis of fees, exchange rate spreads, 4% incentive eligibility, and transfer speeds across major freelancing withdrawal channels.

Read Guide→
Tax & Compliance6 min read

ITES 0% Tax Exemption & Income Tax Return Filing Rules under ITA 2023

Statutory rules on 100% tax exemption for ITES exporters, Section 264 PSR compliance, and zero-tax income tax return submission in Bangladesh.

Read Guide→
Cards & Payments5 min read

Complete Guide to Freelancer Dual-Currency International Debit & Credit Cards

Bangladesh Bank GFET regulations on using bank-issued international dual-currency cards for SaaS, cloud, and digital advertising payments.

Read Guide→
Platform Comparison6 min read

Payoneer vs Wise vs Direct SWIFT: Which is Best for Bangladeshi Freelancers?

Comprehensive benchmark comparison of hidden fees, FX spreads, settlement times, and local bank payouts across Payoneer, Wise, and SWIFT.

Read Guide→

💡Freelancer Banking & Statutory Tax FAQs

Authoritative compliance guidance based on Bangladesh Bank FEPD & NBR regulations

Under Bangladesh Bank FEPD circulars, export revenue from software and ITES remitted via formal banking channels (SWIFT, Payoneer, Wise, etc.) is entitled to a 4% cash incentive. Submit Form 'Ka' along with client invoices and contract proofs to your receiving bank within 30 days of fund realization.