What is the format, Calculation and Section of final settlement of tax to NBR.

Tax Deduct at Source Non-rasident

The Bangladesh RMG sectors minimum tax rate is fixed 0.60%  U/S: 53BB of ITO-1984, tax at source on export when the export is realized by commercial Bank.

The format, Calculation and Section of final settlement of tax to NBR after closing the audit by external Auditor to submit the return in specific announced date by the government.

XYZ Company

Details of Income Tax Calculation

For the Year Ended 30’June-2017

Assessment Year: 2017-2018

Particulars Tax Rate Amount In Taka Amount In Taka
Tax Deducted at Source U/S: 53BB of ITO-1984 7,475,000
Net Profit from Operation as per Audit Report 27,000,000
Income Tex Liabilities @ 12% 3,240,000
Tax Deducted at Source U/S: 53BB of ITO-1984 (7,475,000)
Income Tax Liabilities on Business Income (4,235,000)
Income from other Source 19,500,000
Income Tax @ 35% 2,345,000
Cash Incentive 3% 14,000,000 420,000
Bank Interest (STD, FDR, etc.) 35% 5,500,000 1,925,000
Less:
AIT on Bank Interest 10% 550,000
AIT on Bank Cash incentive 3% 420,000 (970,000)
Income Tax Liabilities on Others Income 3,315,000
Total Income Tax Liabilities 3,315,000
Authorized Representative
ITP

 

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