Taxation and Regulatory
Taxation and Regulatory
We shape your tax and regulatoy planning to maximize its output.
Owning and operating a business demands a considerable amount of time and effort, especially when it comes to day-to-day operations. This often leads business owners to deprioritize managing their tax obligations and secretarial and expat employment requirements. Furthermore, it is crucial to recognize the ever-evolving business landscape, leading to continuous changes in the tax system. The taxation framework in Bangladesh is intricate and perpetually changing, lacking the simplicity and clarity often desired.
In view of the current circumstances, it is paramount to engage the expertise of tax experts capable of providing strategically designed, impeccably timed, and exceptionally robust, from a commercial standpoint, advice throughout the year in support of the ongoing growth and evolution of the business.
With a demonstrated track record of serving both local and multinational organizations, our team of tax experts and regulatory specialists are proficient at providing tailored advice and invaluable insights to assist in achieving your optimal position in the tax and regulatory spectra.
Our Approach
We are committed to building enduring partnerships with you, taking the time to fully grasp your long-term goals, and ensuring that your tax structure is meticulously tailored to your needs. Our profound understanding of your financial affairs and aspirations enables us to proactively alert you to any impending tax requirements that may have an impact.
In the ever-changing business landscape, it is crucial to seamlessly incorporate expert tax planning advice into your operations for sustained success. ASICO’s tax experts have extensive knowledge and experience in navigating the complex and detailed Bangladeshi tax rules and regulations. They offer confident and strategic advice to finance teams and management on various corporate tax issues and developments. Our team partners with diverse businesses spanning multiple industry sectors, including textile, energy, banks, NBFIs, financial services, real estate and construction, education, health, transport and logistics, technology and telecommunications, small start-ups, listed companies, subsidiaries of multinational groups, family-owned businesses, venture capital, and private equity fund managers, managed investment schemes, industry associations, charities, and other not-for-profit organizations.
At ASICO, our expertize in individual and employee tax services provides clients with professional advice and guidance to ensure that all tax filing requirements are met while minimizing tax liabilities and maximizing tax-saving opportunities. We are committed to helping you optimize your personal tax situation.
Our team of tax experts provides counsel to both individuals and employers on effective strategies for expatriate work arrangements. We offer a comprehensive range of services tailored to the specific needs of expatriate clients engaged in temporary work assignments within Bangladesh. ASICO possesses extensive experience in navigating the regulatory frameworks set forth by the Registrar of Joint Stock Companies and Firms, Bangladesh Securities and Exchange Commission (BSEC), Bangladesh Investment Development Authority (BIDA), and Bangladesh Bank (central bank), encompassing specialized tax considerations such as transfer pricing laws, employment taxes for ex-pats, capital gains taxes, and double taxation treaties.
We assist our clients on all matters of corporate and individual tax compliance and advisory matters, including:
Tax Consulting
- Corporate and commercial tax planning
- Tax litigation support including prudential solutions
- Year-end tax planning strategies
- Tax-effective structuring for small to medium-sized business
- Taxation solutions for individuals and executives
- Proactive advice resulting from fast-changing tax legislations
- Group structuring and reorganization (including tax consolidation)
- Preparation, filing, and pleading appeals before the appropriate authority
- Preparation, filing, and assisting in obtaining approval of provident fund, gratuity fund, and pension fund
- International tax planning and structures
- Preparation, filing, and assisting in obtaining exemption/reduced rate certifications
- All sorts of VAT and customs, regulatory and supplementary duties services
Corporate Secretarial Affairs
- Formation of private/public/branch office /liaison office
- Share transfer and capital reduction assignments
- Initial public offering (IPO) consultancy
- Drafting memorandum and article of association of company
- Filling of annual return with RJSC
- Certification on compliance of corporate governance notification by BSEC
- Conversion from private to public limited company and company into LLP and vice versa
- Conversion from sole-proprietorship and partnership entity to company
Assistance in regulatory compliance
- Guiding and assisting the clients, like, foreign companies, firms or individuals in establishing their branch office or a liaison office in Bangladesh to engage in industry, trade and commerce
- Obtaining the income taxpayer’s identification number (TIN), and VAT registration from the National Board of Revenue of Bangladesh
- Obtaining immigration security clearance, extension of visas, etc for expatriates
- Obtaining the first permission for opening branch and liaison office from Bangladesh Investment Development Authority (BIDA)
- Obtaining a trade license from Dhaka City Corporation
- Obtaining permission in favour of the expatriates from Bangladesh Bank under section 18A of Foreign Exchange Regulation Act 1947
- Obtaining work permits for expatriates from BIDA
- Obtaining membership of any Chamber of Commerce and Industry in Bangladesh
- Obtaining import/export registration certificate from the office of the Controller of Imports & Exports
- Obtaining the second permission for branch/liaison office from Bangladesh Bank under section 18B of Foreign Exchange Regulation Act 1947