Payroll Tax

Engaging a Payroll Tax Consultancy Service in Bangladesh:

The modern-day success of Bangladesh’s payroll services is greatly influenced by Payroll Tax Consultancy. Without the use of Payroll Consultancy in Bangladesh, the work of the payroll services in Bangladesh is half-hearted.

In consideration of the Payroll Tax Consultancy in Bangladesh, the government is implementing severe rules and regulations on employers about payroll taxes, for instance calculation of withholding tax, paying of withholding tax, producing and distributing withholding certificates to the employees, and filing of annual tax returns of the employees.

Employers are required to withhold payroll or salary taxes from employees’ paychecks and to prepare and distribute tax deduction certificates to employees at the end of every fiscal year in accordance with Income Tax Laws of Bangladesh. This obligation is enforced by the Payroll Tax Consultancy in Bangladesh.

The Bangladeshi government has just added a new regulation that compels the employers to keep track of their employees’ annual tax returns and make sure they are submitted within the required window of time. Employer will be subject to fines and disallowance of all payroll-related expenses if they fail to comply with these rules and regulations, according to the tax authority, the National Board of Revenue (NBR) of Bangladesh.

On the contrary, an employee would like to receive all tax benefits while staying within the bounds of tax laws and regulations, so the following issues must be resolved:

• Tax reduction
• Proper tax benefit calculation
• Timely payment of remunerations following tax withholding
• Provident fund withdrawal.
• Life insurance deduction
• At the end of the year, timely distribution of tax deduction certificates.

In Bangladesh, we offer various types of payroll tax consulting services, including but not limited to the following:

• Best wage arrangement for tax purposes.
• Deduction of withholding taxes.
• Prompt payment of withholding taxes to the NBR.
• Reimbursement costs of all kinds and other benefits are added and subtracted.
• Making and submitting withholding tax preparations.
• Keeping a track to ensure that employees submit their yearly tax returns.
• Compiling and submitting the annual tax return for the employees and any other pertinent paperwork that are required.
• Creating and distributing tax deduction certificates, registering and delivering pay and other benefits, and distributing tax deduction certificates.
• Creating and maintaining provident funds in accordance with Bangladesh’s taxation policies.

Under Bangladeshi tax laws, our payroll tax consulting services were advantageous to both employers and employees and guarantee to keep benefitting both employer and employees in compliance with tax laws of Bangladesh. Please contact ABC Associates for further information.