Bangladesh Cracking Down On Tax-Evading Foreign Workers
Bangladesh’s National Board of Revenue (NBR) is clamping down on foreign workers failing to declare their earnings in the country.
Earlier companies were encouraged to report details of foreigners they have on their payroll to the Bangladesh Investment Developments Authority (BIDA), as currently required by law. Foreign individuals should pay a 30 percent income tax on their income and companies that fail to report information about the foreigners they employ may risk losing tax concessions, such as tax holidays.
The tax agency has been undertaking on-site visits in evasion-prone sectors and is endeavoring to require payment of taxes by errant taxpayers at immigration desks.
Foreign workers found to be in violation of the country’s tax rules will face fines, a 50 percent tax rate on the undeclared earnings, and a possible custodial sentence.