Understanding Tax Audit in Bangladesh

The National Board of Revenue (NBR) selects tax returns for audit based on risk assessment guidelines. Once selected, the taxpayer receives a notice from the Deputy Commissioner of Taxes (DCT), initiating the audit process. Taxpayers have an opportunity to submit revised returns; if satisfactory, the audit concludes. Unsatisfactory responses may lead to formal tax assessments under sections 183 or 184 of the Income Tax Ordinance.

Audits must be completed within a two-year time limit from the end of the year the return was filed or the audit was selected. NBR is transitioning to a digitized, automated audit selection system to enhance transparency and reduce taxpayer harassment.

Our Tax Audit Support Services

1. Pre-Audit Assessment and Readiness

• Review of submitted tax returns and supporting documentation

• Identification of risk areas and potential audit triggers

• Advising on compliance gaps and rectifications before audit commencement

2. Audit Management and Representation

• Coordinating with tax authorities and responding to audit notices

• Preparing and submitting revised returns and necessary explanations

• Representing your interests during audit meetings and communications

3. Post-Audit Resolution

• Handling tax assessment notices and objections process

• Advising on appeals and further proceedings with the Tax Appellate Tribunal if needed

• Assistance with voluntary disclosures and settlements

4. Process Streamlining and Documentation

• Ensuring timely compliance with audit deadlines under Income Tax Act, 2023

• Organizing and managing audit records and correspondence

• Guidance on maintaining proper books of accounts and documentation for future audits

Benefits of Partnering with Us for Tax Audits

• Expertise in Bangladesh Tax Law: Knowledgeable navigation through complex audit procedures and legislative requirements.

• Risk Mitigation: Proactive identification and minimization of audit risks to avoid major adjustments or penalties.

• Efficient Process Handling: Reduced audit timeframes with structured management and professional representation.

• Peace of Mind: Mitigated stress and operational disruption during audits by entrusting professionals.

Who Should Use Tax Audit Support?

• Corporate entities, SMEs, and foreign investors undergoing tax audits by the NBR

• High-net-worth individuals and professionals subject to tax scrutiny

• Businesses aiming to improve tax compliance and reduce audit risk

• Japanese and international companies operating in Bangladesh requiring local audit expertise

Why Tax Audit Services Are Crucial in Bangladesh

With NBR’s move to digitize audit selections and increased focus on tax compliance, audits are becoming more frequent and rigorous. Proper preparation and professional guidance help prevent harassment, reduce legal risks, and ensure your tax affairs are correctly assessed and settled.

Ready to Manage Your Tax Audit Confidently?

Contact Tokyo Consulting Firm Bangladesh for a free 30-minute consultation. Our specialists will assess your tax audit readiness, guide you through the process, and protect your interests from audit initiation through conclusion.