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Bangladesh

Bangladesh Flag

Country: Bangladesh
Region: Asia
Currency: Bangladeshi taka (BDT) (Tk)
Languages: Bangla (Bengali)
Time Zone: UTC +6

Phone Code: +880

Communications: Good

Formation Cost: 5200 - 6000 USD$
Formation Time: 14 - 24 days
Maintenance cost: 2300 - 3100 USD$

Executive Summary: Bangladesh is in Southern Asia, bordering Burma to the east and India to the west. With a land area of 130,000 sq km, Bangladesh is densely populated, with its population of 164m the world’s ninth largest. Ethnic Bengalis make up 98% of the population and Bangla is the official language, although English is also spoken. Despite suffering from political instability, poor infrastructure and delayed economic reforms, the economy has continued to grow fairly rapidly, with GDP having expanded by almost 6% a year since 1996. More than half of GDP is generated through the service sector, although 45% of Bangladeshis are employed in agriculture, with rice the single-most important product. Textiles is another important industry, and garment exports totalled USD12.3bn in 2009. Various tax incentives are provided to investors in industrial equipment, residential construction, power generation and hospitals, among other areas.

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Vehicle Types: Limited liability companies, joint stock corporations, branches, general partnerships and limited partnerships

Capital primary business districts: Dhaka

Good Relationships: China, India, Indonesia, Singapore

Bad Relationships: Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia

Tax Burden - Business: Light

Tax Burden - Individual: Light

Headline tax rates: CIT 20%, PIT 14%-25%, VAT 18%

Treaty Jurisdictions: Belgium, Canada, China, Denmark, France, Germany, India, Indonesia, Italy, Japan, Korea, Republic of, Malaysia, Mauritius, Netherlands, Norway, Pakistan, Philippines, Poland, Romania, Saudi Arabia, Singapore, Sri Lanka, Sweden, Switzerland, Thailand, Turkey, United Kingdom, United States, Vietnam

TIEA Jurisdictions: None

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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