Tax is the single biggest compliance burden and concern for businesses globally. Regulators are constantly increasing tax rates, scrutiny and legislation to ensure higher state earnings. Consequently, businesses must ensure complete/absolute compliance with local regulations to avoid such reprimand.
Our tax experts have extensive local work experience in managing both direct and indirect taxation in Bangladesh. We help both global and local companies manage their tax compliance obligations locally on a day to day basis. We provide complete outsourced tax compliance services that ensure filings are done on time, correct rates are applied, deadlines are met, and reporting is done to clients keeping the entire process transparent.
Due to high complexity, tax compliance is difficult for most businesses. At ACE Advisory, we simplify the entire process from assisting with obtaining an e-Tin number to getting a VAT/BIN registration number either online or offline. In addition, we provide the following services related to Tax Compliance in Bangladesh.
We provide daily support to clients to ensure each transaction (customer invoices, vendor invoices, payments, and receipts) is compliant for tax and VAT in Bangladesh. Part of this service involves pre-execution vetting to ensure all contracts are tax compliant.
We assist clients by preparing and submitting the following returns to the NBR:
We assist our clients in obtaining Income Tax e-TIN certificates and VAT registration process in Bangladesh from the National Board of Revenue (NBR).
We prepare necessary forms (challans) for payment of withholding tax to the Government Exchequer.
We assist clients in preparing their annual corporate income tax returns and filing of the same to the NBR. This includes:
The selection and formation of an entity can be surprisingly complex, and regulations, timeliness, costs and requirements can differ significantly. To get the most out of your business, choose the right type of entity to help maximize your chances of financial and operational success.
We specialize in assisting new business and existing business in obtaining/renewing/amending various local registrations, licenses, and corporate secretarial filings.
With increasing regulations and introduction of new standards, Finance Departments will feel the need for enhanced scrutiny and specific local knowledge to ensure compliance requirements are met. By engaging a third party with your accountancy and finance functions, these risks can be mitigated while your management and resources can be focused on value adding and core business activities.
The administration of payroll services can be surprisingly complex and challenging. Our HR and Payroll Management Services ensure clients can focus on business strategy while we take care of all payroll management, taxability, and other country specific issues. Outsourcing to us will save costs by reducing manpower and infrastructure requirements.
Corporate secretarial and compliance roles are key in most jurisdictions and local regulations are often complex and challenging. Our corporate secretarial services ensure that you can avoid maintaining an expensive secretarial team in your local office and be sheltered from the associated compliance risks.
In light of increasingly complex tax laws, it is important to plan well in advance to avoid surprises and take advantage of tax benefits in the long run. Tax planning is best developed in advance. However certain transactions are often undertaken without proper tax planning in which case the ultimate risk must be identified and minimized.
We help clients formulate their corporate strategy enabling them to build more effective organizations, reduce costs and increase scope for technological intervention. We assist clients in evolving to meet changing industry trends and management focus. In the long run, we remain closely associated with guiding our clients to achieving their business strategy by innovating, cutting costs, managing risk, leveraging talent and changing the way they do business.
Pressing business needs often results in founders/business sponsors neglecting local compliance for the initial few years of operations. In today’s integrated business environment, this is often not sustainable due to regulatory intervention, compliance requirements set by investors, lenders, banks etc. We are able to step in and perform in-depth compliance due diligence, prepare strategy for catch up compliance and assist client in preparation, filing and resolution of all pending activities. Our team is able to turnaround such catch up compliance assignments quickly and effectively enabling businesses to move onto the next level. Our catchup compliance service covers all aspects including:
We bring our foreign and local client’s extensive transaction and integration expertise, deep local knowledge and a network developed over 2 decades of working with corporate houses in Bangladesh which have resulted in numerous successful M&A deals.