Tax Consultants in Bangladesh
Taxation has been and is one of the critical and complex compliance issues for business organization as well as individual tax payers in Bangladesh. The government is now more strict than previous times to collect Tax and VAT as a source of revenue. Government has been trying to impose tax in every ways possible. If any business organization or individual tax payer fails to comply with prevailing taxation rules, they have chances to face severe pecuniary measures. That is why large and successful organizations have to comply with taxation and related laws. But sometimes they cant handle a difficult taxation scenario efficiently due to their confusion and misunderstanding the law. Both business organization and individual tax payer depends on tax consultancy firms to aid in tax compliance issues. Tax consultants are providing advice or acting as agents or principal on behalf of different business clients in order to remain compliant with rules and regulations and keep it in a favorable position In Bangladesh, Tax consultancy service providers are coming from different types of professional background such as Chartered Accountants, Cost and Management Accountants (CMA), Income Tax Practitioners (ITP), Advocate, Retired. Govt. income tax officers. Tax consultants are providing a wide range of taxation service with due diligence and in a professional manner. They are providing different types of service to their client such as Income tax planning , Filing income tax return, withholding tax return, obtaining TIN certificate, Transfer pricing issue, Filing and obtaining permission regarding Tax Holiday and Tax assessment matter, Filing case ,acting as tax lawyer ,advocacy about taxation matter, Obtaining VAT registration , Filing Monthly VAT return and providing advice and guidance to the client regarding taxation matters. Tax consultants are very efficiently providing some of these services, specially in the case ofincome tax filing , annual assessment, advocacy in appellate tribunal . Now a days, Income tax planning is one of most important issue for large business organizations because of their lots of day to day transaction as well as their complex nature of business. Mode of tax planning are changing day by day due to continuous changing and adding provision in income tax and Value added tax . Large and successful business houses want a new dimension of tax planning service such as structuring salary and perquisites, dividend issue, investment ,finance issue , purchase policy issue, transfer pricing issue tendering , tax holiday, CSR and even location of production mattersto cope up and survive with new scenario and get the best benefit by complying taxation laws. Tax consultants have huge opportunity to provide service in this tax planning matter. This new field of service will add the value of their professional profile. So tax consultants should add new range of tax planning service and practice in this area to put their client the best position they deserve.