Deal signed with Czech Republic to avoid double taxation

Staff Correspondent

16 December, 2019 12:00 AM printer

Deal signed with Czech Republic to avoid double taxation

National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan and Czech Deputy Prime Minister and Finance Minister Alena Schillerova exchange documents after signing an agreement in Czech capital Prague on Wednesday.

Bangladesh and the Czech Republic have signed a double taxation avoidance agreement (DTAA) to strengthen bilateral trade and investment ties between the two countries.

National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan and Czech Deputy Prime Minister and Finance Minister Alena Schillerova inked the agreement on behalf of their respective sides at a function in Czech capital Prague on Wednesday, an official handout said.

Two deputy ministers of the Czech Republic and high officials of the ministry concerned were present at the DTA-signing ceremony.

NBR Member Arifa Shahana, Commercial Councillor of the Bangladesh Embassy in Berlin Md Saiful Islam, First Secretary Asma Dina Gani and Foreign Ministry Director Shahriar Mosharraf attended the programme from Bangladesh side.

Later, Md Mosharraf Hossain Bhuiyan, also the senior secretary of the Internal Resources Division (IRD), at a bilateral meeting highlighted the recent development journey of Bangladesh under the leadership of Prime Minister Sheikh Hasina.

The deal is the 36th DTAA treaty singed by Bangladesh to enhance bilateral cooperation and boosting investment.

According to the NBR chairman said, “The signing of a DTAA is necessary to expand trade and investment opportunities with other countries. The deal will make it easier for businesses in the Czech Republic to invest in Bangladesh.

“Similarly, Bangladeshi people will become more interested in investing in that country.”

Bangladesh has so far signed DTAA with 36 countries. Among them - India, Nepal, Pakistan and Sri Lanka are members of the South Asian Association for Regional Cooperation.

Among Asian countries, DTAA was signed with Myanmar, Japan, China, Thailand, Philippines, Vietnam, Singapore, South Korea, United Arab Emirates and Saudi Arabia.

In Europe, Bangladesh signed the agreement with the United Kingdom, Sweden, Romania, France, Germany, Netherlands, Italy, Denmark, Norway, Belgium, Poland, Turkey and Switzerland. Bangladesh has also signed the DTAA with the USA, Canada and Mauritius.

 


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