Explore Your Tax-Saving Opportunities & Development Strategy With Our Personal Income Tax Services
Tax Rate in Bangladesh
The Personal Income tax rate varies throughout the assessment years. This implies individual taxpayers of type, except for some special type taxpayers. This includes female taxpayers of 65 years and above, retired employees, and gazette war-wounded freedom fighters. The typical tax rates are:
| Total Income | Rate of Tax |
|---|---|
| Tk 250,000 | 0% |
| Tk 400,000 | 10% |
| Tk 500,000 | 15% |
| Tk 600,000 | 20% |
| Tk 3000,000 | 25% |
| Remaining amount | 30% |
The Personal Income tax rate is Tk. 5,000 for applicants living in Dhaka and Chittagong city corporation areas. Tk. 4,000 for applicants residing outside of city corporation areas. Tk. 3000 for the rest clients. Income Tax return filing is compulsory for both residents and non-residents of Bangladesh. It is a mandatory task imposed by The National Board of Revenue (NBR). Our Personal Income tax assessment services help you to calculate your tax return and submit it on time.
Our Personal Income Tax Services Put You In Control Today & Ready For Tomorrow
Calculate Clients’ Taxable Income
File Clients’ Supporting Documents
Summarize Clients’ Tax Liabilities
Create Clients’ Business Plans
Minimize Clients’ Tax Liability
Land and Property Income Tax
Capital Gains Tax
Residency and Taxation
Changes in Residency and Taxation
Our Personal Tax Services Manage Personal & Family Wealth With Strategic Tax & Financial Planning Advice
We at OutsourcingBD ensure both advantages to the individual and compliance according to Bangladesh Personal Income Tax policy. As per the requirement stated in the Finance Act, 2017, if an individual earns more than Tk. 250,000 during the income year then that person has to file income return according to the sources of income.
However, the limit of maximum non-taxable income for women for senior taxpayers of 65 years and above age will be Tk. 300,000 and Tk 400,000 for physically challenged and retarded personnel.
Our Tax Services Help To Manage Your Personal Tax Affairs
As legislation becomes more complex, efficient Personal Income Tax planning becomes more important, and we specialize in providing a bespoke service to match particular customer needs. Our Personal Income Tax services are designed to preserve your assets and keep you informed about matters that may affect you. We can create a detailed plan for your and your family’s future together, including tax-saving opportunities.
Successful Calculation Of Income & Tax Rebate
Right after the residential status assessment, an annual income of a person has to be determined and categorized. In this way, one can determine his/her payable Personal Income Tax amount. These heads are Income from Salary, Income from House property, Interest on securities, Income from business or profession, Agricultural Income, Capital Gain Income, and Income from other sources. For each head, he needs to submit specific documents as evidence of the income shown in the return. If any individual pays any amount of his income to a recommended govt. source, it will be entitled as a tax credit. Nevertheless, the payment must include necessary documental proves to keep it legit.
Time Limit To Submit The Tax Return
A person has to submit a tax return on his annual income to the deputy commissioner of taxes. The E-TIN copy declares all the jurisdictions of a person and it is compulsory under the Personal Income Tax provision. It’s time to get confidence in your tax issues as the Bangladeshi tax system becomes increasingly complex. The Personal Income Tax service, which is delivered by a national team of private client specialists, leverages market-leading technology to enable you to get the high-quality, personalized personal tax advice you need at a price you can afford.
Consequences For The Failure Of Submission Of Tax Return
An individual has to pay penalties for failing to submit a return as per the rules of the Personal Income Tax Ordinance, 1984. This individual will also be accountable to pay additional charges for continuing default period. Various regulatory bodies of Bangladesh needs tax acknowledgment receipt for authorization purpose. One can obtain this paperwork by submitting a tax return.
FAQs For Personal Income Tax Services
Certainly! You may check the status of a refund in a variety of ways. You may receive your state tax refund in 7 to 10 business days if you submitted your return online, or 8 to 12 weeks if you mailed your return, due to the processing schedule in Bangladesh.
If you have any more questions or concerns about your current personal or corporate tax returns, we have the expertise to guide you through your situation. We can handle any tax problem for anyone in any tax rate, including high-asset individuals, small enterprises, and Fortune 500 corporations. Give us a call if you need additional information about your specific tax requirements.
We keep your data for as long as your account is active or as long as it is required to provide you with services. May we keep or use your information as long as it is needed to comply with our rules, legal responsibilities, settle disputes, or enforce our agreements. We must keep submitted tax returns for at least three years, according to the IRS.
Yes, we provide an online tax service that allows you to access our expertise whenever you choose. Get in touch with us to know more.