Summary: The tax authority of Bangladesh has taken measures to redraft the existing DTAA in order to assimilate it with advanced protocols. The DTAA (Double Taxation Avoidance Agreement) simultaneously guarantees that an individual does not have to pay tax twice in two countries and also that he/she does not avoid paying taxes in all. This agreement is to be modernized... Read More
The United Nations Information Service (UNIS) Vienna via a recent Press Release dated 04.01.22, announced that Georgia ratifies the United Nations Convention on International Settlement Agreements Resulting from Mediation also known as the "Singapore Convention on Mediation" with the deposit of the instrument of ratification at the UN Headquarters in New York, thereby becoming the ninth State Party under... Read More
Summary: The International Oil Corporations involved in mineral oil and gas exploration, extraction and production under the product sharing contract with Petrobangla will now be enjoying Vat exemption under specific conditions. Content: The Bangladesh government is trying to facilitate International trade and Foreign Investment in Bangladesh. For this reason, International oil corporations (IOCs) operating in Bangladesh have been given VAT waivers once... Read More
We congratulate our client, Dr. Saiful Khandaker, a financial technology (Fintech) pioneer, for launching a company on the NASDAQ Stock Exchange as the first Bangladeshi. He is the founder and CEO of Fintech Ecosystem Development Corporation, a Special Purpose Acquisition Company (SPAC) that went public on October 19, 2021. The company is listed on NASDAQ (symbol: FEXDU) and is funded by... Read More
Summary: ‘Indomitable Bangladesh-Towards Sustainable Development’ puts high hope of brightening the image of the country along with promoting Bangladeshi products. Content: In the upcoming October, Bangladesh will showcase its 50 years of achievements at an international expo in Dubai. The expo is open to the world. This information has been acquired from the Commerce Minister Tipu Munshi at a press briefing in... Read More
Summary: Import of capital machinery into the country declined for three years in a row and the GDP to private sector investment ratio dropped significantly in FY21 apparently due to lack of investment-friendly environment in the country. Content: Businesses necessarily import capital machinery for the escalation of industrial units and to increment new plants. The government also imports machinery for different infrastructures. In... Read More
Summary: With the deposit of the instrument of ratification, effected on 2nd September, Honduras becomes the seventh state party to the 'Singapore Convention on Mediation ' which occurred shortly before the inaugural of UNCITRAL Academy. Content: The Singapore Convention on Mediation, formally the United Nations Convention on International Settlement Agreements Resulting from Mediation which was adopted on 20 December 2018 and opened for... Read More
Summary: Bangladesh has finally become a member of the New Development Bank (NDB), which aims to be an alternative to the US-dominated World Bank and International Monetary Fund. Content: The new Development Bank founded by Brazil, Russia, India, and China in 2014 tried to expand its membership on Dec 17th formerly referred to as the BRICS Development Bank, established by the BRICS states. Very... Read More
LAWS RELATING TO MARITIME LIEN AND MARITIME CLAIMS IN BANGLADESH A traditional maritime lien is a secured right in the “res", i.e., in the property of another (ordinarily the ship), which arises with the claim, without registration Or other formalities it; travels with the vessel even if it is sold to third party; Which remains with the vessel until it... Read More
International law usually falls into two categories. Public International Law and Private International Law. Public International law is the set rules, agreements, and treaties that are binding between countries. It generally comes from three sources: treaties, customs and general principles of law. Public international law concerns the relationships between nations and international organizations. Private international law, on the other... Read More
