VAT Consultant

Vat Agent

According to the Value Added Tax and Supplementary Duty Act, 2012 and the Value Added Tax and Supplementary Duty Rules, 2016 effective from 1st July 2017, a non-resident entity that conducts business in Bangladesh but does not have a static place of business must appoint a VAT Agent in Bangladesh. The VAT Agent is the individual who is authorized to act on behalf of the business entity.

The VAT agent will be the individual authorized to deal with the VAT authorities on behalf of the non-resident.

How shall VAT Agents work in Bangladesh?

On behalf of the non-resident, the VAT Agent must obtain a VAT Agent certificate, which is normally valid for three years. The certificate can be renewed by submitting an application prior to its expiration date.

After nomination of the VAT agent of the non-resident, the National Board of revenue (NBR) must be notified of such nomination. The NBR shall contact the VAT agent to get his permission.

Such a VAT Agent for a non-resident must be equally and severally accountable for all dues, including taxes, fines, penalties, and interest that may be levied, and shall bear all duties and carry out all actions of the non-resident.

Nonetheless, a VAT Agent’s VAT registration of economic operations must be in the name of the principal.

Our VAT Agent Services in Bangladesh

Our firm has professionals comprising Chartered Accountants, Cost and Management Accountants, and Lawyers, all of whom are members of the Institute of Chartered Accountants of Bangladesh, the Institute of Cost and Management Accountants of Bangladesh, and the Bangladesh Bar Council.

Our professionals are qualified to operate as VAT agents for non-resident entities in Bangladesh, and they have the necessary expertise dealing with VAT authorities about VAT return filing, VAT exemption, input/output tax credit, VAT audits, and VAT registration.

Our firm has professionals comprising Chartered Accountants, Cost and Management Accountants, and Lawyers, all of whom are members of the Institute of Chartered Accountants of Bangladesh, the Institute of Cost and Management Accountants of Bangladesh, and the Bangladesh Bar Council.

Our professionals are qualified to operate as VAT agents for non-resident entities in Bangladesh, and they have the necessary expertise dealing with VAT authorities about VAT return filing, VAT exemption, input/output tax credit, VAT audits, and VAT registration.

Tax and Vat Consultant In Bangladesh

Tax and VAT (Value Added Tax) Consultants in Bangladesh are those who will guarantee that your firm complies with all applicable VAT and TAX rules and regulations. VAT is an indirect tax that is applied to the total value of all goods (imported or supplied) and services.

Every supplier, provider, importer, and exporter of taxable goods and services is required to register under the VAT Act 1991 in the manner stipulated by the Rules. Our firm may assist you to complete the registration process by drafting, submitting and obtaining various required documents such as: Form “MUSHOK-6”, Form “MUSHOK-7, trade license, TIN certificate, IRC, ERC; deed of ownership or lease of land, house or building; Articles of Association and Memorandum of Association for limited company, Deed of partnership for partnership. 

If any modifications are made after the completion of registration, the responsible official must be notified by submitting the specified form, MUSHOK 9, within 14 days of the modification. The VAT must be submitted within the time frame set forth in the law.

Generally, VAT is charged at a rate of 15% on the base value of all imported or provided products and services. Imported items included in the first schedule of the Act and the list of supplies of items not named in the said Schedule, will not be subject to VAT at the stated rate. Furthermore, separate VAT rates will apply to services supplied or imported that are included in the Act’s second schedule.

Failure to pay Tax and VAT by a registered person at the specified time and specified rate, there are provisions for penalties (i.e., monetary fine or imprisonment).  A businessperson does not need to be concerned about any Tax and VAT-related concerns when a Consultant is present since he/she will handle them with competence and professionalism. We provide consultancy to several well-known entities in Bangladesh. We can give exact information and the amount of Tax and VAT that must be paid, registration method, and guarantees that all paper work pertaining to VAT and other taxes is updated, reducing the risk of a mistake.