Expert Income Tax Services in Bangladesh: Your Trusted Legal Partner

At Income Tax and VAT Law Firm and SDTT ACADEMY, we understand that navigating the complexities of income tax in Bangladesh can be a daunting challenge for individuals and businesses alike. The regulatory landscape, primarily governed by the Income Tax Act, 2023, is dynamic and demands a meticulous approach to ensure compliance, minimize liabilities, and safeguard your financial interests. As a leading law firm specializing in taxation, we offer comprehensive and strategic income tax services designed to provide clarity, efficiency, and peace of mind.

Why Choose Income Tax and VAT Law Firm and SDTT ACADEMY for Your Income Tax Needs?

Our team of experienced tax lawyers and legal professionals possesses an in-depth understanding of Bangladesh's tax laws, including the latest amendments introduced by the Income Tax Act, 2023. We are committed to delivering tailored solutions that meet the unique needs of each client, leveraging our legal expertise to navigate intricate regulations and optimize your tax position.

Here's how we can assist you:

   For Individuals: Ensuring Personal Financial Health and Compliance

The Income Tax Act, 2023, has brought significant changes to individual taxation, affecting everything from tax-free thresholds to investment rebates. We provide expert guidance to individuals, including:

    Tax Planning and Advisory: We help you understand your tax obligations, identify eligible exemptions (e.g., the consolidated tax exemption limit for medical, house rent, and conveyance allowances, now up to BDT 450,000 or one-third of annual salary, whichever is lower), and strategize investments to maximize tax rebates. This includes guidance on investments in government savings certificates, mutual funds, and Deposit Pension Schemes (DPS).

    Income Tax Return Preparation and Filing: Our team meticulously prepares and files your annual income tax returns, ensuring accuracy and timely submission to avoid penalties. We stay updated on the latest filing deadlines. We can assist with both traditional paper filings and the increasingly popular e-filing system.

    Guidance on Minimum Tax and Surcharge: We clarify the applicability of minimum tax based on your location (e.g., BDT 5,000 for Dhaka and Chattogram City Corporations if taxable income exceeds the first slab) and help determine if a surcharge on total tax payable is applicable based on your net worth (e.g., net asset limit for surcharge raised to BDT 4 crore from BDT 3 crore).

    Assistance with Advance Tax Payments: For individuals with higher incomes, we advise on the calculation and timely payment of advance tax in quarterly installments, ensuring full compliance.

    Support for Foreign Nationals and NRBs: We provide specialized tax advice for foreign nationals residing in Bangladesh and Non-Resident Bangladeshis (NRBs), addressing their specific tax liabilities, residency rules, and the implications of Double Taxation Avoidance Agreements (DTAAs).

   For Businesses: Strategic Tax Management and Corporate Compliance

The corporate tax landscape in Bangladesh is complex, with varying rates, withholding tax obligations, and comprehensive compliance requirements. Our firm offers a full spectrum of services to corporate entities and firms, including:

  Corporate Tax Planning and Advisory: We provide strategic tax advice to businesses on optimizing their tax structures, identifying eligible deductions and incentives, and navigating the complexities of the minimum tax regime. We help you understand applicable corporate tax rates, which vary significantly based on company type (e.g., publicly traded vs. non-publicly traded, banks, mobile operators, RMG sector) and conditions related to banking transactions. For instance, the standard corporate tax rate for private companies can be 25% (reduced from 27.5% effective July 1, 2024) if specific banking channel conditions are met, otherwise 27.5% (reduced from 30%).

   Annual Corporate Income Tax (CIT) Filing: Our experts meticulously prepare and file your annual CIT returns, ensuring compliance with the Income Tax Act, 2023, and obtaining necessary tax clearance. The deadline for corporate taxpayers for the fiscal year 2024-2025 was reportedly extended to March 15, 2025.

   Withholding Tax (TDS) Compliance: We provide comprehensive support for managing your withholding tax obligations, including calculating accurate deductions for various payments (e.g., salaries, rent, professional fees, services as per the detailed schedules in the Income Tax Act, 2023), preparing monthly withholding tax returns (now reduced to 12 annually), and ensuring timely deposit of taxes to the government treasury. We also advise on the increased WHT rate (by 50% of the applicable rate) if the payee fails to submit their proof of submission of return (PSR).

   Transfer Pricing Documentation and Advisory: For multinational corporations and businesses with cross-border transactions, we assist with transfer pricing policies, documentation, and compliance to ensure arm's length dealings between related entities, mitigating potential tax risks.

    Catch-up Compliance: If your business has missed any tax filings or has outstanding compliance issues, we offer services to help you catch up on all overdue obligations and regularize your tax status.

    Tax Due Diligence: In the context of mergers, acquisitions, or other significant transactions, we conduct thorough tax due diligence to identify potential tax liabilities and opportunities, ensuring informed decision-making.

   Tax Dispute Resolution and Appeals: Your Strong Legal Representation

   Even with diligent compliance, tax disputes can arise. Our legal expertise is invaluable in representing your interests before tax authorities:

    Responding to Tax Notices and Audits: We skillfully handle responses to notices from the National Board of Revenue (NBR), assist in preparing for and navigating tax audits, and ensure all documentation is properly presented. The audit process under the new Act involves specific timelines and procedures that our team is well-versed in.

    Appeals Process: If you disagree with an assessment order, we represent you at every stage of the appeals process, from filing appeals with the Commissioner of Appeals (Taxes) to pursuing matters before the Taxes Appellate Tribunal.

    Alternative Dispute Resolution (ADR): We explore and facilitate Alternative Dispute Resolution (ADR) mechanisms, offering a potentially more efficient and less adversarial approach to resolving tax disputes.

    High Court and Appellate Division Appeals: In cases involving significant legal questions, we are equipped to represent you before the High Court Division and, if necessary, the Appellate Division of the Supreme Court of Bangladesh.

Our Commitment to You

At Income Tax and VAT Law Firm and SDTT ACADEMY, our commitment extends beyond mere compliance. We strive to be your trusted legal partner, offering proactive advice, strategic planning, and robust representation. We understand that effective tax management is crucial for both individual financial stability and business growth. By staying abreast of every amendment to the Income Tax Act, 2023, and broader NBR directives, we ensure that our clients receive the most current and effective tax strategies.

Let us shoulder the burden of tax complexities so you can focus on what matters most. Contact Income Tax and VAT Law Firm and SDTT ACADEMY today to discuss your income tax needs in Bangladesh and discover how our legal expertise can benefit you

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