Compliances for a Branch Office (with revenue generating activities) almost at the same scale of a subsidiary company
Annual Compliances
Company Affairs (Companies Act 1994)- Statutory auditing
- Filing of annual tax return u/s 75
- Filing of annual return of salary TDS statements u/s 108
- Filing of annual return of employee annual tax return submission details u/s 108A
- Collection of VAT clearance certificate
- Renewal of Trade License
- Renewal of trade body membership (if any)
- Renewal of Import & Export Registration Certificate (if any)
- Other industry related licenses (if any)
Half-Yearly Compliances
Income Tax (Income Tax Ordinance 1984):- Filing of half-yearly TDS/withholding tax return submission u/s 75A
Quarterly Compliances
BIDA Reporting:- Un-audited quarterly financial statements
- Filing of quarterly reporting to BIDA, Bangladesh Bank and Tax authority.
Monthly Compliances
Income Tax (Income Tax Ordinance & Rule 1984):- Withholding tax / tax deducted at source (TDS) on regular basis as and when payment made or create payable
- Treasury deposit of TDS
- Issuance of withholding certificate
- Filing of suppliers’ TDS statements under rule 18
- Filing of salary TDS statement u/r 21
- Day to day transaction compliances
- Deceleration of Input-Output Co-efficient whenever the price or cost changes +/-7% from the latest declared price/cost
- Issuance of VAT 6.3 (Tax Invoice) on regular basis
- Maintenance of VAT record keeping on regular basis
- Withholding VAT / VAT deduction at source (VDS) when make suppliers’ payment
- Treasury deposit of VDS
- Issuance of VDS certificate (VAT 6.6)
- Filing of monthly VAT return (VAT 9.1)
- Declaration for transactions which are above BDT 200K.
