Income tax return mandatory for foreigners

Bangla Tribune Report
Published : 20:27, Jun 13, 2019 | Updated : 20:40, Jun 13, 2019

Foreigners living in Dhaka join `Clean up Dhaka” campgain. FACEBOOKForeigners will be under the scanner of the National Board of Revenue as many of them are not submitting tax return even though they are doing good business.
“At present most of the non-resident taxpayers are not submitting their return of income even though they are earning business income through permanent establishments,” Finance Minister AHM Mustafa Kamal said in his budget speech.
He proposed to insert a provision of submitting the return of income for the non-resident taxpayers who are doing business in Bangladesh through permanent establishments.
Bangladesh has double taxation avoidance treaty with many of the countries from where the foreigners come here and according to the treaties, Dhaka has the right to tax the business income of a non-resident taxpayer earned through a permanent establishment in Bangladesh, he said.
About transfer pricing, the minister proposed that companies shall, in their income tax returns, declare whether they have any international transactions, and if they have any, they shall submit the details of such transactions.