Introduction – How much should we invest for tax purposes How much should we invest for tax purposes – As a salaried individual, it’s necessary to allocate a portion of your income towards eligible investments to qualify for tax rebates. Determining the optimal amount of investment for maximizing tax rebates can be a complex task. […]
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Introduction – Mandatory VAT Registration Mandatory VAT Registration – When you are about to start a business venture in Bangladesh, one of the first questions you might have is whether you need to obtain VAT registration. Let’s answer your question. VAT Registration Certificate (VAT 2.3 also known as Bin certificate), issued by the Tax Authority
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Introduction – VDS Rate 2023 VDS Rate 2023 – One of the most common compliance tasks under the VAT & SD Act 2012 for any business entity is VAT Deduction at Source, commonly known as VDS. This requirement applies to both registered and, in some cases, unregistered entities. Even government organizations are obligated to apply
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Introduction – VAT Froms in Bangladesh In Bangladesh, for businesses, VAT compliance is a fundamental aspect to effectively managing your operations within the legal framework. If you are a registered entity and engaged in the sale of products, you are required to issue a VAT Invoice (VAT 6.3). Failure to issue the applicable VAT Forms
VAT Forms Bangladesh – All VAT Forms issued under VAT & SD Act 2012 Read More »
Introduction – Investment for Tax Purposes Investment for Tax Purposes – If you are a taxpayer in Bangladesh, you must be aware of the allowable investment options to get investment tax allowance. Investing in the permitted sectors offers two-fold benefits: firstly, it allows you to save money for the future, and secondly, and perhaps more
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Introduction – Documents for Tax Return Submission Documents for Tax Return Submission – Every year, we are required to file income tax returns by either 30th November (for Old Assessees) or 30th June (for New Assesseaes) following the conclusion of the financial year. During the process of submitting our returns, there are occasions when we
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Introduction – Submit Income Tax Return Submit Income Tax Return – In Bangladesh, the financial year closes at the end of June each year. We have already concluded the financial year 2023. With the close of the financial year, inquiries have arisen from all quarters regarding the deadline for submitting income tax returns for the
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Introduction – File Income Tax Return File Income Tax Return in Bangadesh 2023 – An income tax return refers to the formal declaration of one’s earnings using the prescribed format, which must be submitted to the National Board of Revenue (NBR) within the stipulated time. This obligation applies to individuals whose income surpasses the threshold
Who is required to file income tax return in Bangladesh in 2023-2024 Read More »
Introduction – Tax Return Verification Tax return verification online is the simplest method to verify whether an individual has filed their income tax return. This blog post will guide you through the process of checking the status of return submission online. Tax Return Verification – Law Requirement to check PSR According to Section 264 of
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Introduction – Personal Income Tax Rates 2023-24 Personal Income Tax Rates 2023-24 – In the Finance Act of 2023, the tax-free income threshold for male taxpayers has been increased to Tk. 3.50 lakh from the current Tk. 3.00 lakh. For females and senior citizens above 65 years, the tax-free income threshold has been increased to
Personal Income Tax slab in Bangladesh 2023-2024 Read More »
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