Hassan and Associates
Income Tax, Company Law & Business Service Provider in Bangladesh
Bangladesh Tax Information
For those of you who are interested to know the tax regulations in Bangladesh, here are some information regarding income tax. We however do recommend that you may consult with us as your Income Tax Lawyer and Advisor at Bangladesh for your tax and all other legal needs.
Corporate tax rates for industrial companies whose shares are publicly traded is 30% except Bank, Insurance and financial institute and the rate of those whose shares are not publicly traded and local authorities is 40%
Tax rates on other companies:
Tax rates on income of all other companies including banks, financial institutions, insurance companies is 45%.
Investment requirement by companies enjoying tax holiday:
Companies enjoying tax holidays are required to invest only 25% to 30% of their income in other activities as per rule of N.B.R.
Accepted of returns of public limited companies:
Returns filed by the public limited companies shall be accepted as correct if it is accompanied by audited accounts and certified by a chartered accountant as to the correctness of the total income of the assessee
Salary of foreign technicians:
Salary income received by or due to a foreign technician under contract of service approved by the National Board of Revenue is fully exempted from paying tax (subject to prescribed conditions and limitations) for a period of three years from the date of his arrival in Bangladesh
Tax payable by employer on remuneration of foreign technician
Expenditure incurred by an employer in respect of remuneration of a foreign technician is also fully exempted from income tax (subject to the stipulated conditions).
Remuneration of foreign technicians employed by the firms of consultancy and engineers:
Expenditure incurred as remuneration payable to a foreign technicians by a Bangladeshi firm carrying on the business of consultant and engineers in Bangladesh is fully exempted from tax (subject to prescribed conditions and limitations)
Avoidance of Double Taxation Agreement(DTA):
Avoidance of Double Taxation Agreement is an agreement between two countries seeking to avoid double taxation by defining the taxing rights of each contracting state with regard to cross-border flows of income and providing for tax credits or exemptions to eliminate double taxation. It also provides for exchange of information between treaty partners regarding evasion of tax.
For details contact :
Syed Hassan Ali, B. Com (Hons), M. Com, LL.B, ITP
Tax & Company Law Advisor
House # 154/4, West Rampura, WAPDA ROAD,
Dhaka -1219, Bangladesh
Cell Phone : +8801713257629
E-mail : email@example.com