Doing Business in Bangladesh

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Doing Business in Bangladesh

Doing Business in Bangladesh
Howladar Yunus & Co. Chartered Accountants

February 2012

Howladar Yunus & Co.
Chartered Accountants

Page Chapter Contents

3 3 4 7 18 21 27 30 32 33 37 38 39

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Disclaimer Introduction The Country Forms and Business Enterprises Direct Taxation Exchange Control Other Forms of Taxation Labour Relations and Social Security Grants and Incentives Quality of Life Appendix – A : Rates of Taxes Appendix – B : Rates of Taxes - Companies Appendix – C : RJSC Fees

1.0 Table of Contents

Doing Business in Bangladesh 2012

Page|2

Howladar Yunus & Co.
Chartered Accountants

2. DISCLAIMER
The content of this book is based on the legislation in operation and information available at the time of publication, which may subsequently have changed. Whilst every care has been taken in its production, no responsibility can be accepted for any action undertaken or refrained from as a consequence of this material. Translation of laws, in the appropriate cases, from Bengali to English in this book has not been authenticated by any competent authority. A great effort was made to ensure literal translation of the lawswhich have been published in Bengali only. However, sometimes the free translation became required to make the issue understandable. Specific professional advice should always be obtained based on personal circumstances or specific case. If there is any contradiction on any issue of this book with that of the official publications or decision of the competent authority of the Bangladesh Government, the later shall prevail. Author accepts no responsibility whatsoever for any action undertaken or refrained from as a result of the information contained herein.

3. INTRODUCTION
Bangladesh is a combination of competitive market, business-friendly environment and cost structure that can give the best returns. Bangladesh offers a well-educated, highly adaptive and industrious workforce with the lowest wages and salaries in the region. 57.30% of the population is under 25, providing a youthful group for recruitment. The country has consistently developed a skilled workforce catering to investors needs. English is widely spoken, making communication easy. Bangladesh is strategically located next to India, China and ASEAN markets. Bangladesh has proved to be an attractive investment location with its 146.6 million population and consistent economic growth leading to strong and growing domestic demand. Energy prices in Bangladesh are the most competitive in the region. Bangladesh offers the most liberal FDI regime in South Asia, allowing 100% foreign equity with unrestricted exit policy, easy remittance of royalty, and repatriation of profits and incomes. Bangladesh offers export-oriented industrial enclaves with infrastructural facilities and logistical support for foreign investors.

Doing Business in Bangladesh 2012

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Howladar Yunus & Co.
Chartered Accountants

4. THE COUNTRY
4.1. GEOGRAPHY/STATISTICS Bangladesh is located in the Southern Asia, bordering the Bay of Bengal with the coastline covering 580 km between Burma & India with the land boundaries 4,246 km where Burma covered 193 km and India covered 4,053 km. The time difference is GMT+6. The Total area is 147,570sq km and the total population is 164,425,491.The climate of the country is focused as tropical; mild winter (October to March); hot, humid summer (March to June); humid, warm rainy monsoon (June to October). Official language is Bangla (Bengali). English is widely used in Government, Business and Universities. Out of total population, Muslim 89.6 %, Hindu 9.3 %, Buddhist 0.5%, Christian 0.3% and Other 0.3%.

4.2. ECONOMY The economic position of the country is GDP/PPP (2011 est.): $100 billion; per capita $664, Real growth rate: 6%, Inflation: 11.3%. The Industries are Textiles, Jute, Garments, Tea Processing, Paper...
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