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The Bangladesh Code is an official compilation and codification of laws in Bangladesh, which is published by the Ministry of Law, Justice and Parliamentary Affairs of the Government of Bangladesh. The code was initiated in 1973 and first published in 1977. It has 47 volumes, of which 24 are in English and 23 are in Bengali.
NBR is the authority for tax policies and tax laws in Bangladesh. [1] [2] NBR collects almost 97% of tax revenue and almost 85% of total revenue for the government of Bangladesh. [3] The Customs, Excise and VAT Appellate Tribunal is a tribunal under the National Board of Revenue established in 1995. [4] [5]
Exemption from customs/excise duties for development of SEZs for authorized operations approved by the BOA. Income Tax exemption on income derived from the business of development of the SEZ in a block of 10 years in 15 years under Section 80-IAB of the Income Tax Act. Exemption from minimum alternate tax under Section 115 JB of the Income Tax Act.
In October 2015, Md Shahidul Haque, a high official of the Office of Chief Controller of Imports and Exports was suspended after videos of him taking bribes went viral on Social media in Bangladesh. [ 6 ] [ 7 ]
The Bangladesh Code has been published since 1977. Most of its laws, dating between 1836 and 1987, are in English. Following a government circular in 1987, the code has been published primarily in Bengali. The language of the Supreme Court and High Court is English. However, most magistrates courts and district courts use Bengali. The lack of a ...
Bangladesh Customs is the principal customs agency of Bangladesh. The agency operating under the National Board of Revenue (NBR) is the lead tax collection agency in Bangladesh. [1] NBR is part of the Internal Resources Division (IRD) under the country's Ministry of Finance. The agency formulates policies concerning the levy and collection of ...
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Generally, a company's export earnings are 50 percent exempt. For companies, the tax day (i.e. tax return due date) is now the 15th day of seventh month following the end of income year; alternatively, where that fifteenth day is before 15 September, the tax day is 15 September of the year following the end of the income year.