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Taxation & VAT Laws in Bangladesh: 

  1. Income Tax:

    • Governing Law: Income Tax Ordinance, 1984.
    • Authority: National Board of Revenue (NBR).
    • Rates: Progressive rates for individuals (10%-30%); fixed rates for companies.
    • Filing: Annual returns by November 30; Tax Identification Number (TIN) required.
  2. Value Added Tax (VAT):

    • Governing Law: VAT and Supplementary Duty Act, 2012.
    • Rate: Standard rate is 15%.
    • Registration: Required for businesses with turnover over BDT 3 million.
    • Returns: Monthly filing within 15 days of the following month.
  3. Customs Duties:

    • Governing Law: Customs Act, 1969.
    • Rates: Based on the type of goods; classified under HS code.
  4. Excise Duty:

    • Imposed on specific goods like tobacco and alcohol, as per VAT and Customs laws.
  5. Withholding Tax:

    • Deducted at source on salaries, dividends, and other payments.
  6. Other Taxes:

    • Property Tax: Local government-imposed.
    • Stamp Duty: On legal documents.
    • Gift Tax: On asset transfers without consideration.
  7. Compliance:

    • Non-compliance leads to penalties, interest, and legal action.

Tax laws are updated annually in the national budget, so staying informed is essential.

Frequently Asked Questions

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