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Bangladesh is going to sign agreements with 14 more countries to avoid double taxation to help boost trade and investment, reports UNB.
Bangladesh has already signed such agreements with 23 other countries.
The countries with whom Bangladesh will be signing the deals are: Norway, the USA, Indonesia, Mauritius, Qatar, Myanmar, Saudi Arabia, Switzerland, Russia, Nepal, Iran, Uzbekistan, South Africa and Morocco.
Formalities have been completed on Bangladesh's part for signing deals with Norway, the United States and Indonesia. As soon as the governments of these countries endorse the agreements in their respective parliaments, the deals will come into effect.
Meanwhile, officials said, the agreements that were signed with Mauritius and Qatar are awaiting approval from the cabinet. The deals with Myanmar, Saudi Arabia and Switzerland are awaiting approval by the law ministry.
The second round talks with Russia and Nepal have been completed while the same with Iran is underway.
Besides, preliminary talks with Uzbekistan, South Africa and Morocco have already been completed.
Member (Income Tax Policy) of the National Board of Revenue (NBR) AS Jahir Muhammad told the news agency that in the first quarter of the next year they are expecting to start the process of signing agreements with one or two countries. Spain is one that has already shown their interest in signing a deal with Bangladesh to avoid double taxation.
Recently, the revenue board, on behalf of the government, held a 4-day negotiation with Morocco successfully. A three-member team led by Jahir Muhammad conducted the first-phase negotiations with Moroccan special income-tax officials on avoidance of double taxation in Rabat last week.
The team leader told the news agency that the first round of negotiations was "almost successful".
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