Income Tax

Income tax in Bangladesh is governed by the National Board of Revenue (NBR) and involves a structured system for taxation of individuals, Here’s a detailed overview:

Individual Income Tax:

Tax Rates:

For individuals, the tax rates are progressive, meaning higher income levels are taxed at higher rates, 2024-2025 Tax Slab:

Up to BDT 3,50,000: No tax for general individuals.
BDT 3,50,001 to BDT 4,50,000: 5%
BDT 4,50,001 to BDT 8,50,000: 10%
BDT 8,50,001 to BDT 13,50,000: 15%
BDT 13,50,000 to BDT 18,50,000: 20%
Above BDT 18,50,000: 25%

For senior citizens and individuals with disabilities, the tax-free income threshold is higher. Click Here for Details…

Deductions and Allowances:

Investment: Certain investments, such as in savings instruments and retirement funds, qualify for tax deductions.
Medical and Educational Expenses: There are allowances for medical expenses and tuition fees.
Donations: Contributions to charitable organizations may be deductible.

Filing and Payment:

Annual Returns: Individuals must file their tax returns annually, typically by November 30 of the fiscal year.
Payment: Taxes are often paid in advance through installments, with the final adjustment made upon filing.

Penalties and Compliance:

Late Fees: Penalties apply for late filing or payment.
Audits: The NBR conducts audits to ensure compliance and accuracy.

Tax Incentives and Exemptions:

Investment in Specific Sectors: Tax benefits are available for investments in certain sectors, like DPS, Insurance, Shanchaypatra. All Sector of Tax Rebates.
Tax Holidays: New industries or businesses in specific regions may receive tax holidays.

Filing Process:

Online System: Taxpayers can file returns and make payments through the NBR’s online portal.
Documentation: Proper documentation of income, expenses, and deductions is required.

Role of Tax Advisors:

Professional Advice: Many individuals and businesses seek assistance from tax advisors to navigate complex regulations and maximize benefits.

Taxpayer Identification Number (TIN) Certificate [Individual]

Required documents:

1. NID Copy

Get your e-TIN Certificate now because is absolutely Free, so visit secure.incometax.gov.bd and get our e-tin certificate or call us to get a free e-tin certificate.

TIN Certificate (Partnership Firm)

Required documents:

1. All Partners Individual TIN Certificate (Mandatory)

2. Partnership Agreement (Mandatory)

3. Deed/Paper for Proof of Ownership/Rental Agreement if rented. (Mandatory)

4. Trade License (Mandatory)

4. All Partners NID Copy

(Limited Company) TIN Certificate

Required documents:

1. Incorporation Certificate of RJSC

2. Memorandum and Article of Association

Required documents:

1. TIN Certificate

2. Copy of NID and Others Necessary Documents

Correction such as Fathers name, Mothers Name, Present Address and Permanent Address can be Correctable.

If your TIN Certificate was lost, so it can be recover again.

Return Certified Copy that’s mean True copy of submission of Return

E-TIN Certificate

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