The corporate tax system in Bangladesh is essentially based on the Income Tax Ordinance of 1984. Companies are characterized according to their residency status; resident companies are imposed with taxes on worldwide income, while non-resident ones are obliged to pay income-sourced income only within Bangladesh. The corporate income tax rates vary based on industry and ownership structure. Publicly traded companies are levied lower corporation tax rates, while higher corporation tax rates are levied on non-listed companies, financial institutions, and telecom operators.
There are some sector-specific incentives and tax holidays available, at least in selected industries, especially in Export Processing Zones and economic zones. Companies are also obliged to pay VAT, withholding taxes, and annual tax returns.
IDCLA offers comprehensive services in Bangladesh for VAT and taxation issues, including compliance advisory, assistance, and strategic advice. They evaluate tax consequences, systemize withholding, process deductions, and facilitate timely tax returns. They also represent clients in litigation and disputes with the tax office. IDCLA is known for its integrity, professionalism, and client-centered approach, led by a team of lawyers, accountants, and tax consultants.
Tax Dispute Resolution and Advisory Services:
With global expertise, IDCLA provides corporations and individuals with complete counsel in complicated tax disputes, managing both civil and criminal litigation to provide a thorough settlement of controversial tax situations.
Tax dispute resolution provides the following services:
● Tax certainty about obligation before a transaction.
● Skilfully handle the most challenging audits with representation and strategic help.
● Takes legal action to defend or challenge tax assessments and rulings.
● Skilled in fending off accusations of tax evasion or fraud.
● Tax-related settlements that are negotiated to prevent litigation.
● Helps tax authorities come to transfer pricing agreements.
● Resolve tax issues by international tax treaties, with or without legally binding arbitration.
Comprehensive Tax Advisory Services:
In order to maximize financial results and guarantee that clients stay in compliance with their tax requirements, IDCLA provides proactive, commercially oriented tax advising services. To be more specific, the services will consist of:
● Guidance on matters related to company income tax compliance and planning.
● Personalised guidance on reducing one’s tax obligation.
● Expert guidance and assistance on Value Added Tax-related difficulties and compliance concerns.
● Guide how a real estate transaction may affect taxes.
● Giving customers advice on stamp duty obligations when they purchase real estate or transfer other assets.
● Proficiency in international tax planning, encompassing treaty reliefs and transfer pricing.
To achieve the business aims and expectations of its clients, IDCLA provides prompt legal assistance, handles disputes and tax planning strategies, ensures compliance, manages risks, and maximizes prospects.
