Dhaka, Thimphu in talks to sign double taxation avoidance deal
The National Board of Revenue on Monday started negotiations with Bhutan to sign an agreement on avoidance of double taxation and prevention of tax evasion and capital flight from the country.
A five-member delegation led by NBR chairman Md Nojibur Rahman has been carrying out the first round of negotiations at Thimphu, Bhutan, with the Bhutanese officials on the proposed ‘Avoidance of Double Taxation Agreement’, the NBR said in a statement issued on the day.
The first round of negotiations will end on October 15, it said.
Avoidance of Double Taxation Agreement is an international tax treaty which boosts cooperation in the areas of trade and investment between two countries.
Currently, Bangladesh has such agreements with 33 countries and the revenue board is either carrying out negotiations or communicating to sign the agreement with some 28 countries.
The revenue board has also completed negotiations with Morocco, Bahrain and Qatar while conducted the first round of negotiations with Azerbaijan, Kirgiz Republic, Spain, Portugal, Egypt, Russia, Iran and Hong Kong to sign the agreements.
It has also been communicating with another 16 countries including Algeria, Bulgaria, Czech Republic, Ethiopia, Finland, Greece, Jordan, Luxemburg, Macedonia, Nepal, Nigeria, Oman, Ukraine, South Africa and Uzbekistan.
The Bangladesh delegation for the negotiations consists of NBR member (international taxation) Chowdhury Amir Hossain, commissioner Apurba Kanti Das, first secretary Khurshid Kamal and a representative from Bangladesh embassy in Bhutan.