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BANGLADESH: Unannounced On-Site Inspections Loom as Government Targets Tax-Dodging Overseas Staff

At least 40 companies will be receiving surprise visits over the next two months as the government cracks down on undocumented overseas workers, many of whom are believed to be employed in the country’s more export-oriented sectors. These unannounced inspections will be conducted by the National Board of Revenue as part of its bid to come down hard on tax-dodging foreign employees.

At present, any overseas worker resident in the country for more than 90 days is liable for a 30% Withholding Tax (WHT) on their Bangladesh-derived income. Although businesses are legally required to register all such overseas staff with the Bangladesh Investment Development Authority, it is believed that this requirement is frequently flouted in a bid to dodge the WHT. As a consequence, companies will now be made liable for any outstanding tax owed by overseas staff, even if the employees in question are no longer resident in the country.

Content provided by Picture: HKTDC Research
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