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14.3. Calendar of Important Compliance Events

Tax Year

The tax year in Bangladesh is 1 July to 30 June. Banks, insurance companies and financial institutions are permitted to use calendar year as their tax year.

The revenue authorities may allow a subsidiary of a foreign company to follow a different financial year if such foreign company is required to follow a different financial year for the purpose of consolidation of its accounts with the parent company.

Tax Return Filing

Tax returns must be filed by the 15th day of the seventh month following the income year (i.e. by 15 July for a company following calendar year).

Tax Payments

Every taxpayer is required to pay advance tax in four equal installments falling on 15th September; 15th December; 15th March and 15th June of each year, if the latest assessed income exceeds BDT 400,000.

Availability of E-Filing

The taxpayer may choose to submit tax returns either electronically or in a physical (hard) copy.