In response to the global expansion of multinational corporations, tax authorities are increasingly adopting stringent measures to safeguard their respective tax revenues. The National Board of Revenue (NBR) of Bangladesh introduced transfer pricing regulations into the country’s tax laws for the first time via the Finance Act 2012, effective from 1 July 2014. This regulatory framework is designed to address international transactions involving two associated entities, where either or both are non-residents. Transfer pricing regulations predominantly impact multinational corporations or foreign entities engaged in direct or indirect transactions with subsidiaries, associates, or other legal entities in Bangladesh, encompassing liaison offices, branch offices, or agents.
The compliance obligations stipulated under Bangladesh’s transfer pricing regulations entail the submission of a prescribed Transfer Pricing (TP) return, meticulous maintenance of transfer pricing documentation, and the procurement of certification from a certified accountant under specific circumstances. Non-compliance with these requisites may result in a spectrum of financial penalties, contingent upon the nature and extent of the non-compliance. Our proficient team of Transfer Pricing Practitioners (TPP) stands ready to provide comprehensive assistance to companies in adeptly managing their transfer pricing endeavours. Our array of services spans planning, compliance, documentation, implementation, and resolution of controversies. Comprising a dedicated team of seasoned professionals, including chartered accountants, chartered certified accountants, tax practitioners, diverse industry analyst, transaction specialists, benchmarking experts, and financial analysts, we offer invaluable local insights within a global context. How We Can help our stakeholders and clients:
-Transfer Pricing Planning: Facilitating economically sound transfer pricing planning for international transactions, capital restructuring, and investments. This includes reviewing draft agreements between associated enterprises to identify and advise on potential transfer pricing issues.
– Preparation of Transfer Pricing Documentation/Study Report: Assisting with transfer pricing analysis and the meticulous preparation of documentation/study reports for international transactions, ensuring adherence to the arm’s-length principle.
– Preparation of Transfer Pricing Return: Providing assistance in identifying international transactions and preparing transfer pricing returns in the prescribed format.
– Dispute Resolution: Aiding in the resolution of transfer pricing disputes through a suite of services spanning various levels of the competent authority.