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a reduction of the corporate income tax rate for companies in the readymade garments sector to 15 percent (from 20 percent) a further 1 percent rate reduction (to 14 percent) for companies in the readymade garments sector that have an internationally recognized green building certificate. Certain companies remain taxed at different rates.
The National Board of Revenue provided carnet de passage for tourists despite Bangladesh not being a signatory to the relevant United Nations treaties. [7] In February 2018, Bangladesh High Court ordered the National Board of Revenue to unfreeze the accounts of Robi. [8] The National Board of Revenue raised 124.4 billion BDT from taxes on fuel. [9]
6.9% (for minimum wage full-time work in 2024: includes 20% flat income tax, of which first 7848€ per year is tax exempt for low-income earners + 2% mandatory pension contribution + 1.6% unemployment insurance paid by employee); excluding social security taxes paid by the employer
The lowest reduced rate primarily targeted baby food, medicines, vaccines, books, and music shops, while maintaining a similar redistribution of goods and services for the other rates. In 2024, a law aimed at reducing the national debt featured return to two rates: a standard rate of 21% and a reduced rate of 12%.
The Directorate sued Grameen Bank for VAT evasion of 670 million BDT. [15] It secured 5.2 million BDT from Alesha Mart after completing an audit of the company. [ 16 ] In November 2021, VAT Audit, Intelligence and Investigation Directorate fined Danish Foods Limited, a subsidiary of Partex Group for evading 34.6 million BDT in VAT. [ 17 ]
Customs, Excise and VAT Appellate Tribunal was established on 1 October 1995. [3] The verdicts of the tribunal can be appealed to the High Court Division. [4] It is composed of one tax officer and one judge, one of whom will be the president of the tribunal.
Customs Intelligence and Investigation Directorate seized a Rolls-Royce that had been imported in Bangladesh without proper declaration and paying taxes by the Z&Z Intimates Limited, a subsidiary of Ananta Group, in 2022. [42] It fined the company 560 million taka for the Rolls-Royce. [43]
The Institute of Cost and Management Accountants of Bangladesh; Type: The national body of the professional Cost and Management Accountants of Bangladesh: Established: 1977 () Affiliation: International Federation of Accountants and International Accounting Standards Board: President: Prof. Dr. Md. Salim Uddin FCMA: Vice-president