MD. RAKIB HASSAN
Accounting, Compliance, VAT & Tax Expert (UK & BD) in Sylhet, Bangladesh
Category: NBR
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What is VDS and TDS in Bangladesh? In Bangladesh, VDS (VAT Deduction at Source) and TDS (Tax Deduction at Source) are mandatory withholding taxes. When a business pays a vendor for specific goods or services, they are legally required by the NBR to deduct a percentage of the invoice amount and deposit it directly to…
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What is the difference between Turnover Tax and VAT in Bangladesh? In Bangladesh, standard Value Added Tax (VAT) is typically charged at 15% (with varying rates for specific sectors) and allows businesses to claim input tax credits. Turnover Tax is a flat, lower-percentage tax designed for smaller SMEs whose annual revenue falls below the mandatory…
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What is the difference between Turnover Tax and standard VAT in Bangladesh? In Bangladesh, standard VAT is generally charged at 15% and allows businesses to claim input tax credits (rebates) on their purchases. Turnover Tax is a simplified 4% flat tax designed for small enterprises with an annual revenue below BDT 3 Crore. However, businesses…
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What is TDS and VDS compliance in Bangladesh? TDS (Tax Deducted at Source) and VDS (VAT Deducted at Source) are mandatory withholdings required by the National Board of Revenue (NBR). Corporate entities in Bangladesh must deduct specific tax percentages from vendor payments, salaries, and rent, and deposit these funds directly to the government treasury using…
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How can businesses automate NBR VAT compliance in Bangladesh? Businesses can automate NBR VAT compliance by integrating their cloud accounting platforms with custom low-code solutions. Using tools like Google Apps Script, companies can automatically calculate Tax Deducted at Source (TDS) and VAT Deducted at Source (VDS) from daily transactions, ensuring accurate, error-free monthly filings with…