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The National Board of Revenue (NBR) is the central authority for tax administration in Bangladesh. Administratively, it is the attached department to the Internal Resources Division (IRD) of the Ministry of Finance (MoF).
[4] [5] It was created through the passage of Financial Reporting Act 2015 in the parliament of Bangladesh. [ 6 ] In 2020 it signed agreements with International Valuation Standards Council , International Federation of Accountants , and IFRS Foundation .
The DPs form part of the audit reports if it is justified and approved by the CAG of Bangladesh. A list of audit directorates are given below: 1. Directorate of Civil Audit 2. Directorate of Revenue Audit 3. Directorate of Commercial Audit 4. Directorate of Works Audit 5. Directorate of Transport Audit 6. Directorate of Foreign Aided Project ...
In November 2021, VAT Audit, Intelligence and Investigation Directorate fined Danish Foods Limited, a subsidiary of Partex Group for evading 34.6 million BDT in VAT. [17] The Directorate sued Nahid Enterprise for evading 2.75 billion BDT in VAT and called for further investigations by Customs Intelligence and Investigation Directorate and ...
The National Board of Revenue provided Carnet de Passage for tourists despite Bangladesh not being a signatory to the relevant United Nations treaties. [7] In February 2018, Bangladesh High Court ordered the National Board of Revenue to unfreeze the accounts of Robi. [8] The National Board of Revenue raised 124.4 billion BDT from taxes on fuel. [9]
In his initial budget for the 1982-83 fiscal year, which totaled ৳4,738 crore, Muhith raised the tax-free income limit to ৳20,000 and introduced a dearness allowance for public servants. In the following fiscal year, he presented a larger budget of ৳5,896 crore, marking a notable increase. During this period, Muhith also introduced a new ...
The basic requirements for financial reporting by all companies in Bangladesh were provided by the Companies Act of 1994. [1] Today, it is represented by two professional bodies, the Institute of Cost & Management Accountants of Bangladesh (ICMAB) and the Institute of Chartered Accountants of Bangladesh (ICAB).
On 15 October 2017, the directorate seized 12 gold bars and arrested two including an employee of Biman Bangladesh Airlines. [24] World Bank surrendered two cars to Customs Intelligence and Investigation Directorate after it sought information on 16 cars the organization imported. [25] The World Bank handed over another car a few days later. [26]