{"id":639,"date":"2019-10-11T08:06:37","date_gmt":"2019-10-11T08:06:37","guid":{"rendered":"https:\/\/legalseba.com\/resources\/?p=639"},"modified":"2024-10-19T09:22:34","modified_gmt":"2024-10-19T09:22:34","slug":"tax-exemption-for-information-technology-enabled-services-ites-in-bangladesh","status":"publish","type":"post","link":"https:\/\/legalseba.com\/bd-resources\/tax-exemption-for-information-technology-enabled-services-ites-in-bangladesh\/","title":{"rendered":"Tax Exemption for Information Technology Enabled Services (ITES) in Bangladesh"},"content":{"rendered":"

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.16″ global_colors_info=”{}”][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text admin_label=”Text” _builder_version=”4.27.2″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

Tax Exemption for Technology Companies in Bangladesh<\/h1>\n

On 30th June 2024 through publishing Finance Act 2024, Bangladesh Government confirmed that Any income derived from the following business of a person\/business being a resident or a non-resident Bangladeshi for the period from the first day of July 2024 to the thirtieth day of June, 2027 is 100% exempted on the conditions that the person\/entity shall file an income tax return in accordance with the Income Tax Act 2023.<\/p>\n

The above finance act amended Schedule 6 of the Income Tax 2023 to effect the time extension of the Tax Exemption.<\/p>\n

Business Categories that are eligible to get Tax Exemption in Bangladesh up to 2027:<\/span><\/h4>\n
1. AI-based solution development<\/div>\n
2. Blockchain-based solution development<\/div>\n
3. Robotics process outsourcing<\/div>\n
4. Software as a service (SaaS)<\/div>\n
5. Cyber security service<\/div>\n
6. Digital data analytics and application<\/div>\n
7. development service<\/div>\n
8. Mobile Application Development Service<\/div>\n
9. Software Development and Customisation<\/div>\n
10. Software Test Lab Service<\/div>\n
11. Web listing, website development, and service<\/div>\n
12. IT assistance and software maintenance service<\/div>\n
13. Geographic information service<\/div>\n
14. Digital Animation development<\/div>\n
15. Digital graphics design<\/div>\n
16. Digital Data Entry and Processing:<\/div>\n
17. E-learning platform and e-publication<\/div>\n
18. IT Freelancing<\/div>\n
19. Call Center Services<\/div>\n
20. Document conversion, imaging, and digital archiving<\/div>\n

It is to be noted that the tax return shall be filed regularly to be eligible for this exemption. Besides, the business may need to avail of BASIS Membership<\/strong> and a Tax Exemption certificate from the concerned Tax office every year to be eligible for these benefits.<\/p>\n

Before issuing a Tax Exemption Certificate to the relevant IT Company, the National Board of Revenue typically conducts a thorough examination which includes reviewing employee details, assessing the company’s general tax compliance, verifying business operations, and performing multiple on-site visits to scrutinize the company’s financial documents.<\/p>\n

Upon the duty officer\u2019s confirmation that the nature of the business qualifies under the specified category and the company is in full compliance with Applicable Tax Regulations<\/a>, the relevant tax office will issue a Tax Exemption Certificate. It is important to note that this certificate is not subject to renewal. Each year, the tax office will require the submission of a fresh application for the issuance of a new certificate.<\/p>\n

 <\/p>\n

Why Choose LegalSeba.com?<\/h3>\n