A Complete Guideline for the Formation of a Private Limited Company in Bangladesh

Posted by SSA

in Article, Corporate Governance, Financial Regulatory, Private Client, Startup Advising and Formation

Most Bangladeshi companies are registered as private limited liability companies, commonly known as private limited companies. A private limited company in Bangladesh is a separate legal entity and shareholders are not liable for the company’s debts beyond the amount of share capital they have contributed. According to the Companies Act 1994, any person (foreign or local) above the age of 18 can register a company in Bangladesh. As per section 2(k) of Companies Act 1994, A Private Company means a company which by its articles restricts the right of transfer of the share, prohibits invitation to the public to subscribe...

04 February

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A Comprehensive Guide to Data Privacy Bangladesh’s 2023 Act

Posted by SSA

in Article, Information Technology, Tech Law

The Data Privacy Bangladesh Act of 2023 (Draft) represents a pivotal milestone in the legal landscape governing the handling of personal data. Enacted to address the evolving challenges posed by rapid technological advancements and increasing digitalization, this legislation aims to safeguard the privacy and rights of individuals in an era marked by data-driven innovation. By imposing stringent regulations on the collection, storage, processing, and sharing of personal information, the Data Protection Act establishes a comprehensive framework for organizations to adhere to ethical standards and ensure transparency, accountability, and responsible data management practices. This overview delves into the key provisions and...

28 January

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A Closer Look at the Income Tax Act 2023: Tax Reform in Bangladesh

Posted by SSA

in Taxation, Article

“Nothing can be said to be certain, except death and taxes” – a famous quote by the American Statesmen Benjamin franklin connects directly to the prevailing scenario of Bangladesh. For almost all the major services today, a citizen is asked to provide documents related to his/her income tax. Doing so, the government makes sure that the majority of the eligible population is under the radar of taxation. Why wouldn’t it do so? After all, about 80% of public revenues are derived from tax sources. For the fiscal year 2022-2023, revenue receipt from NBR (National Board of Revenue) sources was 370000...

Articles

A Complete Guideline for the Formation of a Private Limited Company in Bangladesh

A Comprehensive Guide to Data Privacy Bangladesh’s 2023 Act

A Closer Look at the Income Tax Act 2023: Tax Reform in Bangladesh