Enhancement of the scope of remittance for academic or research related subscription

FEPD Circular No. 17
Authorized Dealers(ADs) to remit subscription fees for academic software and cloud-based educational services, raising the limit to 15,000 US dollars per institution each calendar year. Previously, the limit for subscriptions set at 3,000 US dollars. ADs are required to verify the authenticity of invoices and comply with tax regulations also following routine reporting and AML/CFT standards.