Compliances for a Liaison office in Bangladesh is relax compare to a private or a subsidiary company. The compliance of a Branch office without revenue generating activities is same as a Liaison office. Compliances related to a Liaison office are as below:
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
- Renewal of Trade License
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:- Filing of quarterly receipt & payment 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
- Maintenance of VAT record – keeping on regular basis (mostly purchase records)
- 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
