Ripon Chandra Bhowmik

Divisional Head, Taxes and Finance


Mr. Ripon Chandra Bhowmik is a seasoned legal professional in Bangladesh with significant experience in taxes, finance, audit, and related matters. He provides expert guidance on tax compliance, financial regulations, and legal disputes. With a proven track record in handling complex cases and ensuring client satisfaction, Bhowmik is a valuable asset to the legal community. Mr. Bhowmik leads our Taxes and Finance Division comprising of Taxes and Finance departments, which is ranked under Corporate & Finance by Chambers and Partners 2023 Asia Pacific Guide.  The editorial says: “The practice is additionally recognised in areas such as business formation, M&A and employment matters, alongside energy, infrastructure and real estate matters. Advocates at the firm are knowledgeable on restructuring and insolvency procedures. Notable clients advised by the firm include the likes of Bangladesh Garment Manufacturers and Exporters Association…”

Mr. Bhowmik is an Advocate of the Supreme Court of Bangladesh. He has altogether nineteen years of background working in the field of corporate Taxes and Finance, including ten years of working as senior management of Accounts and Finance departments in leading companies. Throughout his expansive career, he has worked with various reputed multinational companies and organizations in Bangladesh, including but not limited to Christian Aid, Helvetas Bangladesh, etc. Mr. Bhowmik has also worked with an Audit and Accounting firm, which allowed him to be at the forefront of understanding and handling (on ground level) the complex taxation regime, for both direct and indirect taxes, and other fiscal matters in Bangladesh.

He has a proven track record in handling complex tax disputes, VAT issues, and financial transactions. His areas of expertise include representing clients in tax disputes, conducting tax audits, mitigating risks, developing effective tax strategies, resolving VAT disputes, overseeing VAT-related operations, ensuring compliance with VAT regulations, providing legal counsel on financial matters, ensuring compliance with financial regulations, driving sound financial decision-making, handling banking disputes, advising clients on tax compliance and lending agreements, assisting in mergers, acquisitions, divestitures, and other corporate transactions, providing guidance on insider trading regulations, and representing clients in corporate governance matters. His comprehensive knowledge and experience make him a valuable asset for individuals and organizations seeking expert advice in these areas.

Organization Plan

The Divisional Head is a partner level position at Rahman’s Chambers. The person is responsible for the work of the entire Division he/she leads. Depending on the expertise he/she has, the person may be a senior member/member of one/more department under different division.  

Taxes and Finance

Taxation

Tax

Mr. Bhowmik possesses extensive expertise in various tax-related matters. His experience also includes representing clients in tax disputes before the High Court, Tax Appellate Tribunal. Mr. Bhowmik is proficient in navigating complex tax laws and regulations, ensuring compliance and minimizing tax liabilities. He has a proven track record in conducting tax audits, mitigating risks, and developing effective tax strategies. Mr. Bhowmik has experience in dealing with disputes related to the rejection of trading account transactions and the imposition of fictitious profit. He has a strong background in preparing and filing individual and corporate income tax returns.

VAT

Mr. Bhowmik is a seasoned professional in VAT management. Mr. Bhowmic has a strong track record in resolving VAT disputes, including those related to input VAT, inventory lists, and penalty assessments. He has successfully challenged VAT claims through ADR and defended clients before VAT Appeal Tribunals. He has a deep understanding of VAT laws and regulations, including their practical application in various business contexts. Mr. Bhowmik is adept at overseeing VAT-related day-to-day operations for large groups of companies, ensuring compliance with VAT regulations and minimizing VAT burdens. Mr. Bhowmik maintains strong communication with VAT authorities, handles VAT audits effectively, and calculates the total tax impact of various products and transactions. He is skilled in developing standard operating procedures for VAT departments, ensuring adherence to laws and regulations, and implementing robust risk management and internal control systems.

Finance

Mr. Bhowmik’s comprehensive expertise in finance and law, combined with his experience as a financial attorney, positions him as a valuable asset to any organization. His deep understanding of financial regulations, coupled with his ability to navigate complex legal landscapes, ensures compliance and mitigates risks. His proficiency in financial analysis, strategic planning, and accounting operations demonstrates his ability to drive sound financial decision-making. As a financial attorney, Mr. Bhowmik brings a unique perspective to financial matters, providing legal counsel and guidance to ensure the organization’s financial health and compliance.

Corporate finance 

Mr. Bhowmic has a proven track record in handling a wide range of banking disputes, from interest calculations and payment adjustments to excessive claims. He has successfully secured moratoriums and installment payments for clients facing insolvency, demonstrating his ability to navigate complex tax matters. Additionally, Mr. Bhowmic has extensive experience in advising clients on tax compliance, security documentation, and various lending agreements.

Mr. Bhowmik provides legal advice on a variety of transactions, including mergers, acquisitions, divestitures, private equity, venture capital, debt financing, and equity offerings. He assist clients in structuring and negotiating these deals, ensuring compliance with relevant laws and regulations, and protecting their interests.

Securities law 

Mr. Bhowmik provide guidance on insider trading regulations and represent clients in proxy contests and other corporate governance matters.

Education

  • MPA (Master of Public Affairs), on HRM, University of Dhaka (2017)
  • LLB (Hons), National University, Bangladesh (2007)
  • PGDM (Post Graduate Diploma in Management), Open University (2006)
  • M.Com (Masters in Commerce), Comilla Victoria College, (1998)
  • B.Com (Bachelors in Commerce), Comilla Victoria College, (1997)

Legal Qualification

  • Advocate, Supreme Court of Bangladesh (2022)
  • Advocate, District Court of Bangladesh (2009)
  • Member of “The Dhaka Taxes Bar Association” (2010)
  • Member of “The Bangladesh VAT Professional Forum” (2015)

Employment History

  • Divisional Head, Taxes and Finance Division, Rahmans Chambers (2024 – ongoing)
  • Sr. Manager (Audit, VAT & TAX) KAZI ZAHIR KHAN & CO. (2023-24)
  • Sr. Finance and Service Manager Helvetas Bangladesh (2022-23)
  • Sr. Advisor (Finance & Operations) Drik Picture Library Ltd. (2021)
  • Finance & Administration Manager British Council (2020-21)
  • Operations Manager Plan International (2018-20)
  • Country Finance Manager Christian Aid (2015-18)
  • National Finance Manager Terre des homes (2012-15)
  • Finance Officer United Purposes (2011-12)
  • Finance Officer United Purposes (2006-08)
  • Executive Accounts & Finance Uttara Motors Ltd (2003-06)
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