Bangladesh and the Maldives agreed to sign double taxation avoidance agreement (DTAA) to boost bilateral trade.
To this end, both the countries on Wednesday held the second round of negotiation in Dhaka at the BCS (Tax) Academy and signed an agreed minutes for the DTAA, said a National Board of Revenue (NBR) press release, reports BSS.Delegations of both the countries discussed seven articles, which remained unsettled in the first round of negotiation that took place in Malé, in 2017, and reached to a settlement to finalize the draft agreement.
NBR’s member for international taxation Arifa Sahana and Deputy Commissioner General of the Maldives Inland Revenue Authority Hassan Zareer led their respective delegations. The main goal of the agreement is to help the investors to avoid double taxation on the same income in the two countries. The DTAA will create a congenial atmosphere in both the countries for the investors, added the release.
Currently 100,000 Bangladeshis are working in the Maldives and this agreement will pave the way to Bangladesh’s software industry for exploring new business opportunities in Maldives.