[vc_row][vc_column][interactive_banner_2 banner_title=”Income Tax Services: As per income tax ordinance & rules with NBR” banner_image=”id^9469|url^https://portfolio.com.bd/wp-content/uploads/2021/01/fear.jpg|caption^null|alt^null|title^fear|description^null” banner_style=”style5″ banner_title_bg=”#ffcc00″ banner_color_title=”#292929″ banner_color_bg=”#ffcc00″ image_opacity=”1″ image_opacity_on_hover=”1″ banner_desc_style=”font-weight:bold;” banner_desc_font_size=”desktop:25px;” banner_desc_font_family=”font_family:Archivo Black|font_call:Archivo+Black” banner_title_font_family=”font_family:Archivo Black|font_call:Archivo+Black” banner_title_style=”font-weight:bold;” banner_title_font_size=”desktop:25px;”][vc_row_inner][vc_column_inner][bsf-info-box icon_size=”32″ icon_animation=”fadeInUp” hover_effect=”style_2″]With a team of local tax specialists, we at PORTFOLIO Bangladesh aim to provide our customers with the necessary knowledge and insight into Bangladesh’s market. Along with the respective advisory services, our tax specialists also take care of all your taxation needs through our integrated Tax Services in Bangladesh.
This includes services like- increasing net asset value, undertake transfer pricing, minimize tax liabilities, implement tax computer systems, and provide advice regarding the financial implications of various business decisions. Further, PORTFOLIO also provides compliance services- assisting our clients in the preparation of corporate and individual tax returns, tax audit defense, and tax risk management.[/bsf-info-box][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_single_image image=”9477″ img_size=”full”][/vc_column][vc_column width=”1/2″][bsf-info-box icon_size=”32″ icon_animation=”fadeIn” hover_effect=”style_2″]Planning and Consulting- To reduce the tax exposure of companies and give advice about the same, PORTFOLIO is very important to understand the tax laws of the country, especially double tax agreements.
PORTFOLIO’s team of highly qualified tax experts is well versed in these laws and uses this knowledge to provide the best advice to our clients about tax compliance.[/bsf-info-box][vc_separator color=”custom” style=”dashed” border_width=”2″ accent_color=”#ffcc00″][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”9496″ img_size=”full” style=”vc_box_outline” border_color=”black” css_animation=”appear”][/vc_column][/vc_row][vc_row][vc_column][dt_sc_iconbox icon_type=”none” title=”PORTFOLIO offers a range of taxation services in the following areas:”][/dt_sc_iconbox][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_column_text css=”.vc_custom_1609906295014{padding-right: 35px !important;padding-left: 35px !important;background-color: #ffffff !important;}”]
- TIN certificate as per section – 184A;
- The individual tax calculation & return submission as per section –75;
- Company & firm’s tax calculation & return submission as per section –75;
- Income tax certificates;
- Tax exemption certificate as per six schedules part-A;
- Application for provident fund/gratuity fund/worker participation fund as per first schedule par-A, B, C;
- Application for a tax exemption certificate as per section –52AA;
- Application for tax holiday certificate as per section –44;
- Special tax treatment as per section –19 C, D;
- Voluntary disclosure of income as per section –19E;
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- Face with tax audit as per section –82BB
- Correction of error as per section –82BB;
- Filling of revised return as per section –78;
- Assessment completion as per chapter –VIII;
- Prepare a return of international transaction as per section –107B;
- Double taxation relief as per section – 144, 145;
- Appeal against the order of tax recovery officer as per section –157;
- Appeal to the appellate tribunal as per section-158;
- Tax planning and consulting;
- Refund on the basis of order in appeal as per section-149;
- Adjustment of refund against tax as per section-152;
- All the benefit as per the SIXTH SCHEDULE part- A, B;
- Others (as per income tax act-1984)
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”9493″ img_size=”full” css_animation=”bounceIn”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text css_animation=”bounceInLeft”]Transfer Pricing- All intercompany pricing arrangements, with regards to transactions between related business entities, fall under Transfer Pricing. These can include the transfer of Intellectual Property, Tangible Goods, Services, Loans, and other financial transactions.
Due to the rapid rise of multinational trade, the interest in Transfer Pricing Agreements has seen a sudden rise. Needless to say, without professional services taking care of these agreements for a business, these can be viewed as tricky waters for any and all businesses. PORTFOLIO also provides compliance services- assisting our clients in the preparation of a return of international transaction as per section –107B.[/vc_column_text][vc_separator color=”custom” accent_color=”#ffcc00″][/vc_column][/vc_row][vc_row][vc_column][vc_icon type=”material” icon_material=”vc-material vc-material-arrow_drop_down_circle” color=”custom” size=”xl” align=”center” custom_color=”#ffcc00″][ultimate_heading main_heading=”Income Tax Planning in Business”][/ultimate_heading][vc_empty_space][ultimate_fancytext strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”10000″ typewriter_loop=”off” fancytext_strings=”‘Tax planning’ takes maximum advantage of the exemptions, deductions, rebates, reliefs and other tax concessions allowed by taxation statutes, leading to the reduction of the tax liability of the taxpayer.””][dt_sc_titled_box title=”How tax is planned?” icon=”” textcolor=”#292929″]
Income tax planning techniques used by a business:
[/dt_sc_titled_box][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”01. Forms of business” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”Partnership firm and companies need to pay tax separately, where profit for the sole proprietorship business is included in the income of its owner. Some business organization can avail tax holiday scheme, and some sector enjoys special tax rates. So before starting the business, the entrepreneurs should consider the tax policy for a particular business.” css_fancy_design=”.vc_custom_1611137688197{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”02. Setting up recognize fund” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”An organization can create a recognized provident fund, group insurance scheme, benevolent fund, superannuation fund, etc. This is a mechanism to avail tax advantage.” css_fancy_design=”.vc_custom_1611137763666{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”03. Availing investing opportunity having a tax advantage” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”An organization can invest in those areas where it can avail some tax advantage.” css_fancy_design=”.vc_custom_1611137824180{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”04. Use of debt capital” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”The use of debt capital in the capital structure of an organization may be advantageous for a company as interest expense is tax-deductible.” css_fancy_design=”.vc_custom_1611137880531{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”05. Investment in the business having tax holiday scheme” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”Money can be invested in those organizations where tax holiday facilities can be availed.” css_fancy_design=”.vc_custom_1611137951109{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][dt_sc_titled_box title=”Income tax planning techniques used by an individual assesse” icon=”” bgcolor=”#ffcc00″ textcolor=”#292929″]
Under the umbrella of the provisions of the ITO, 1984, an individual assessee can minimize his payment of tax considering the following strategies in course of his tax planning;
[/dt_sc_titled_box][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”01. Investment in tax-free securities” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”An individual may invest his money in several types of tax-free government securities, as the interest income from such securities is fully exempted from tax.” css_fancy_design=”.vc_custom_1611138426522{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”02. Investment in zero-coupon bonds” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”An individual assessee may invest his money in approved zero-coupon bonds issued by various institutions, as the interest income from such bonds is fully exempted from tax.” css_fancy_design=”.vc_custom_1611138506452{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”03. Investment in the stock market” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”An individual may invest his money in various shares. Up to Tk. 50,000 of dividend income is exempted for mutual fund shares and also Tk.50,000 for other shares. Any amount of capital gain arising for transferring of public limited company’s share will be also tax-free.” css_fancy_design=”.vc_custom_1611138670214{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”04. Investment in business which is non-assessable” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”An individual may start such a business where the income is fully non-assessable. Such as income from poultry, handicrafts business.” css_fancy_design=”.vc_custom_1611138649692{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”05. Use loan in investment in capital market” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”An individual assessee may use the loan to acquire capital assets for the business. In such care, he may charge depreciation allowance and also interest on such loan.” css_fancy_design=”.vc_custom_1611138740353{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”06. Submission of a separate return by the family members” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”In a joint family, even in the case of husband and wife, if they submit separate tax return they can avail maximum advantage.” css_fancy_design=”.vc_custom_1611138813696{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][ultimate_fancytext fancytext_align=”left” strings_textspeed=”35″ strings_backspeed=”0″ strings_backdelay=”3000″ fancytext_strings=”07. Taking the opportunity of full tax credit” strings_font_style=”font-weight:bold;”][ultimate_fancytext fancytext_effect=”ticker” fancytext_align=”left” strings_tickerspeed=”200″ ticker_wait_time=”10000″ ticker_show_items=”1″ fancytext_strings=”An individual assessee should predict his / her total income for the next income year to determine the maximum limit of his investment allowance.” css_fancy_design=”.vc_custom_1611138875123{padding-right: 35px !important;}”][/vc_column][/vc_row][vc_row][vc_column][dt_sc_titled_box title=”For planning, you should comply with” icon=”” textcolor=”#292929″][/dt_sc_titled_box][/vc_column][/vc_row][vc_row][vc_column][dt_sc_fancy_ol style=”lower-alpha” variation=”yellow”]
- Ensure that it keeps proper records;
- Deduct tax at the source where it is necessary; Pay advance tax in time, if applicable;
- File returns in time;
- Take investment rebate;
- Comply with notices received from the tax authorities; and
- Be aware of legal remedies where it does not have its rights under the law recognized.
[/dt_sc_fancy_ol][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column][dt_sc_titled_box title=”Types of income tax planning activities are:” icon=”” bgcolor=”#ffcc00″ textcolor=”#292929″]Attempts to have income converted from one type to another (ordinary income vs. capital
gain, regular income vs. windfall income, domestic income vs. foreign income, set-off of loss
under any head);
Attempts to have income shifted from one pocket to another (taxable vs. tax-exempt sources);
and
Attempts to have income shifted from one time period to another (delaying the recognition of
income, if tax rates are constant or declining over time, instant salary vs. deferred compensation)[/dt_sc_titled_box][/vc_column][/vc_row]