29Oct

15% capital gain tax on Sell of land is expected to be revoked

Summary: The draft regulatory order has been approved by Finance Minister AHM Mustafa Kamal and is presently under vetting at the law ministry. As per the latest updates, the government is expected to revoke the newly introduced 15% tax on profits or capital gains earned from...
24Nov

India’s tariff body for anti-dumping duty

Summary  The Directorate General of Trade Remedies (DGTR) of India has advised the finance minister to once more apply anti-dumping duties for an additional five years on Bangladeshi exports of jute products. Content  On October 10, the supreme national authority of India, which is in charge of overseeing...
02Nov

HYBRID SEMINAR ON VAT, TAX & CUSTOMS DISPUTES

Under the new Budget, shareholding percentage has been amended for amalgamation. Now shareholders holding at least 75% (previously 90%) of the value of shares in the amalgamating company (which now includes foreign companies, where there is foreign shareholding in a Bangladeshi company) become shareholders of...
07Jul

Parliament passes Finance Bill with Corporate tax slashed by 2.5%

Summary: Parliament passed some much-debated provisions regarding the Finance Bill 2022, to grant legal cover to a new national budget which should have been more welfare-oriented in the crisis time than growth-centric. Content: In the new fiscal measures the amnesty for whitening offshore movable assets and a cap...
21Apr

Bangladesh Eyes FTAs with Seven Countries, Two Blocs

Summary: In order for signing FTAs (free trade agreements) so as to perpetuate duty-free market access to Bangladeshi products, the government is giving consideration to seven countries and two blocs as prospective partners. Content: On Sunday, the commerce ministry broadcasted a time-based action scheme on favorable market...
14Feb

Bangladesh to revise Double Taxation Treaties

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...
05Jan

International Oil Corporation will enjoy Vat Exemption again

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...
09Nov

Law on the anvil to refund excess Tax

Summary: The long-awaited Income Tax Act 2022 will come into effect soon after presenting the draft to the Cabinet along with the proposal of e-Tax Management system. Content: The National Board of Revenue has finalized the draft Income Tax Act 2022 which incorporates domestic pricing and anti-avoidance rules...
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