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Showing posts from January, 2025

How Can I Contact Afzal and Associates?

Contact Afzal and Associates How Can I Contact Afzal and Associates? Introduction Afzal and Associates is a leading and highly respected firm in Bangladesh, renowned for providing a comprehensive range of expert legal, tax, and advisory services. Whether you are an individual seeking personal tax planning advice, a business owner navigating complex corporate tax regulations, or a multinational corporation dealing with intricate international tax issues, Afzal and Associates has the expertise and experience to provide you with effective solutions tailored to your specific needs. If you require professional assistance with tax planning, compliance, dispute resolution, or any other legal or financial matter, contacting Afzal and Associates is the first step towards finding effective solutions and achieving your objectives. This article provides detailed inf...

What Are Customs Duties in Bangladesh?

Customs Duties in Bangladesh - Afzal and Associates What Are Customs Duties in Bangladesh? Introduction Customs duties are taxes levied on goods that are imported into or, less commonly, exported from a country. They serve as a significant source of revenue for the government and play a crucial role in regulating international trade, protecting domestic industries, and influencing the flow of goods across borders. In Bangladesh, customs duties are an important aspect of the country's trade and fiscal policy. Understanding how customs duties are calculated, applied, and administered is essential for businesses engaged in international trade, particularly those involved in importing or exporting goods to or from Bangladesh. This article provides a comprehensive overview of customs duties in Bangladesh, explaining their purpose, mechanisms, and the legal fram...

How Does VAT Work in Bangladesh?

How Does VAT Work in Bangladesh? - Afzal and Associates How Does VAT Work in Bangladesh? Introduction Value Added Tax (VAT) is a broad-based consumption tax levied on the value added to goods and services at each stage of the production and distribution chain. It is a significant source of revenue for the government of Bangladesh and plays a crucial role in the country's fiscal system. Understanding the intricacies of how VAT works is essential for businesses operating in Bangladesh, as it directly impacts their pricing, accounting, compliance obligations, and overall financial management. This article provides a comprehensive overview of the VAT system in Bangladesh, explaining its key features, mechanisms, and implications for businesses. Value Added Tax (VAT) VAT is fundamentally a tax on consumption, meaning that the ultimate burden of ...

What is the Income Tax Ordinance, 1984?

The Income Tax Ordinance, 1984 - Afzal and Associates What is the Income Tax Ordinance, 1984? Introduction The Income Tax Ordinance, 1984, is the cornerstone of income tax legislation in Bangladesh. It is a comprehensive and detailed law that establishes the framework for the assessment, collection, and administration of income tax on individuals, businesses, and other entities earning income within the country. This Ordinance is a critical piece of legislation that impacts virtually all taxpayers in Bangladesh, making a thorough understanding of its key provisions essential for ensuring compliance, optimizing tax planning, and avoiding potential legal and financial repercussions. This article provides a detailed overview of the Income Tax Ordinance, 1984, highlighting its significance, key aspects, and implications for taxpayers in Bangladesh. Prima...

What Are International Tax Issues?

International Tax Issues - Afzal and Associates What Are International Tax Issues? Introduction In today's increasingly interconnected global economy, businesses and individuals frequently engage in cross-border transactions, investments, and operations. This globalization has led to a significant rise in international tax issues, which arise from the interaction of different countries' tax systems and the complexities of taxing income and transactions that span multiple jurisdictions. Understanding these issues is of paramount importance for multinational corporations, businesses engaged in international trade, and individuals with cross-border financial interests. Failure to adequately address international tax issues can result in double taxation, significant tax penalties, reputational damage, and legal complications. This article provides a ...

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How Can I Contact Afzal and Associates?

What Are Customs Duties in Bangladesh?

How Does VAT Work in Bangladesh?

What is the Income Tax Ordinance, 1984?

What Are International Tax Issues?