Tax Advisory

Tax Advisory

Taxes in Bangladesh are mainly controlled by the National Board of Revenue or NBR. There can be many different types of taxes levied on different types of businesses. Entities, depending on their structure need to obtain Electronic Tax Identification number or E-Tin and registration with the VAT authorities.

Taxes would be imposed on all types of incomes, which could include rents, interests, revenue from sales, commissions, fees etc. Taxes would be imposed on all such incomes from all applicable sources after subtracting the allowable deductions. There are also certain deductions where deductions are not acceptable. Businesses submit with return, their income statements, if applicable the audit statements etc. along with scheduled documents such as reports on depreciation of assets or statement of profit or loss on sale of fixed assets.

There are different types of organizations which fall under the company hierarchy for tax purposes, such as all the companies, branch office, liaison office or representative offices registered in Bangladesh. These companies depending on their incorporation procedures need to be registered with Bangladesh Investment Development Authority and Registrar of Joint Stock of Companies.

Payroll taxes are income-based taxes on the employees. These taxes are considered as TDS or tax deducted at source. Value added taxes have been introduced in Bangladesh. It is paid at 15% over consumer products. Companies pay duties for import and export of goods and products into and outside of Bangladesh.

Bangladesh consulting has intensive experience in setting up liaison offices, branch offices and companies in Bangladesh. With an extremely potent team of lawyers and finance team, Bangladesh consulting is a one-stop solution with all the legal needs, especially with regards to dealing with any and all taxation needs. Bangladesh consulting has a long list of international clients, who Bangladesh consulting have assisted with setting up their taxation accounts with the NBR in Bangladesh. In addition, Bangladesh consulting has all the requisite expertise with regards to company, corporate and foreign investment matters. Bangladesh consulting can ensure that the companies are compliant to all local laws and regulations and maintain their necessary compliance threshold with regards to taxes.