The National Board of Revenue (NBR) is the authority for administering taxes in Bangladesh.
NBR is responsible for tax formulation, appraisal, tax laws and tax treaties with foreign countries. NBR’s main responsibility is to collect revenue such as import/export related duties and taxes, Excise Duties, Travel Tax, Supplementary Duty, VAT and income taxes.
Tax year and returns submission
Taxpayers must maintain accounting year (income year) from July 1 to June 30 for tax reporting.
However, banks and ﬁnancial institutions including insurance bodies can maintain diﬀerent accounting year. Branch oﬃces of foreign entities, foreign companies and companies with signiﬁcant foreign enquires are allowed to have diﬀerent accounting year for tax reporting.
Companies have to submit tax return before next January 15 (for accounting year ending June
30) or July 15 (for accounting year ending December 31). Companies which are allowed other accounting year have to submit tax return within six months after completing the accounting year.
Taxpayers other than companies need to submit tax return by November 30.
|Corporate Tax Rate|
|1||Publicly traded companies||25%|
|2||Non-publicly traded companies||32.5%|
|3||Banks, Insurance and other Financial Institutions excluding Merchant Banks Publicly traded companies Non-publicly traded companies||37.5% 40%|
|5||Companies involved in production of Tobacco and Tobacco products||45%|
|6||Mobile phone operators (If the company oﬀers at least 10% of equity to public and becomes a publicly traded company then the tax rate will be 40%)||45%|
|7||On received dividend||20%|
|8||Capital gain tax rate||15%|
|9||Turnover tax (This is not an additional tax but a minimum tax if regular tax on business income is less than turnover tax)||0.6% of gross receipts1% of gross receipts for companies involved in tobacco2% of gross receipts for companies involved in mobile operator business|