Home - Bookkeeping Process for Firms in Bangladesh
How to know how many accounting firms in Bangladesh are best considering quality service? As law, every company has to submit annual return and loss or profit records to Income Tax office and RJSC. Let check shortly in a glance under Foreign Direct Investment Law:
| Financial Closing | 30th June of every year |
| Income Tax | 30 percent |
| Dividend or profit or household | 10 percent |
| VAT | Vary product (5 Percent or above) |
| Accounting service charge | Taka 30000 or above, depend on volume of transaction |
Actually, any accounting education person can prepare to account if they have good knowledge and experience. Chartered Accountants (ACA, FCA) qualified or partly qualified, ICMAB (ACMA, FCMA) qualified or partly qualified people can prepare accounting of any company and present report of loss/ profit, balance sheet, journal, and director profile smartly.
Small and medium companies, local and foreign unlike to hire professional accountant considering costing. Normally big companies have their own accounting team and sometimes external accountants are hired from Chartered Accountants firm to work jointly.
Company accounts are prepared upon supporting papers of expenses and incomes along with bank statements. So, it’s cost-effective if an accounting firm is hired to prepare accounts professionally for small and medium enterprises. Within 30 days or 60 days, the whole accounting of business might be completed to be audit.
If auditor is appointed to audit of company and prepare accounting of business is very costly as every audit firms are become busy before and after June of every year. So, we suggest hire accounting firms in Bangladesh to prepare accounts of company to submit auditor for signing.
Our firm assist foreign ownership companies to prepare accounts within frame of law and maximum benefit can be taken (enjoyed) pay reasonable taxation to government.
As law, after paying proper tax and permission from tax office, Board of Investment, and Bangladesh bank, companies are allowed to remit profit amount in own country. This process is not easier but works and foreign investors are doing same.
S & F CONSULTING FIRM LIMITED (Expert on Formation of a company in Bangladesh under FDI) established in 2012 in Bangladesh and expanded its services in many countries gradually. No compromise its services for the foreign investors and cost-effective, so it's requested to compare us with other accounting firms in Bangladesh. We know behaviors and nature of government offices, local people, bank's requirements and handling any inquiries to save our customer's skin.
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(BA-Hons, MBA, LL.B, LL.M)
Meet Md. Forhad Hossain, a business consultant with more than 14 years of experience. More than 400 companies in Malaysia and more than 7,000 clients worldwide have benefited from his assistance in getting off to a successful start.
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