Transfer pricing regulation in Bangladesh mostly affects direct or indirect transactions with non-resident associated enterprises.
KPMG Bangladesh Transfer Pricing Services help companies implement economically...
As multinational companies are expanding their business into every corner of the globe, tax authorities are seeking more effective measures to protect their tax revenue. National Board of Revenue (NBR) of Bangladesh introduced transfer pricing regulation in Bangladesh tax laws for the first time through Finance Act 2012 which has become effective from 1 July 2014. Bangladesh transfer pricing regulation targets international transactions between two associated entities, either or both of whom are non-residents. Transfer pricing regulation mostly affects multinational companies or foreign companies having direct or indirect transactions with their subsidiaries, associates or other legal form of entities (e.g. liaison office, branch office, agent, etc.) in Bangladesh.
The compliance requirements under transfer pricing regulations in Bangladesh include submission of TP return in a prescribed form, maintenance of transfer pricing documentation, and obtaining certificate from an Accountant in certain circumstances. If a company fails to comply with the requirement and regulation of Transfer Pricing, a range of financial penalties will be applicable depending on the nature and extent of the non-compliance.
KPMG’s Global Transfer Pricing Services (GTPS) professionals help companies effectively and efficiently manage their transfer pricing through the following services: planning compliance and documentation, implementation and controversy. KPMG in Bangladesh has a dedicated team of experienced professionals, including accountants, tax practitioners, specialists, benchmarking experts and financial analysts, who can offer essential local knowledge within a global framework. With the help of GTPS, companies can be assisted in efficient planning of transactions, capital structure and investment arrangements, preparation of annual transfer pricing return and documentation, and responding to challenges from the tax authorities.
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