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INTRODUCTION

The People's Republic of Bangladesh is a country in South Asia. It shares land borders with India and Myanmar (Burma). Nepal, Bhutan and China are located near Bangladesh, but do not share a border with it. The capital city is Dhaka, which is also its largest city.

Bangladesh is classified among the Next Eleven emerging market economies and a Frontier market. Agriculture is the largest sector of its economy. Major industries include textiles, pharmaceuticals, shipbuilding, steel, electronics, energy, construction materials, chemicals, ceramics, food processing and leather goods.

The currency is Bangladeshi Taka (BDT).

Abbreviations:

BAS Bangladesh Accounting Standards
BDT Bangladeshi Taka
CCA Cost Contribution Arrangement
CFC Controlled Foreign Corporation
CSA Cost Sharing Agreement
CUP Comparable Uncontrolled Price
DCT Deputy Commissioner of Taxes
ITeS Information Technology enabled Services
LLC Limited Liability Company
GAAR General Anti Avoidance Rule
OCED Organization for Economic Co-operation and Development
PE Permanent Establishment
RJSC Registrar of Joint Stock Companies and Firms
TNMM Transactional Net Margin Method
USD US Dollar
VAT Value Added Tax
WDV Written Down Value