Firms in the Spotlight Tax

Rahman & Rabbi Legal

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Rahman & Rabbi Legal is headed by Md. Monzur Rabbi, Barrister and a Fulbright Scholar on International Arbitration. Rahman & Rabbi Legal delivers timely and cost-effective solutions in contracts and transactions with an emphasis on thorough investigation and meticulous planning.

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Tax in Bangladesh

A.S & Associates

A.S & Associates' tax team, which has ‘real sector knowledge and expertise', forms part of the wider firm’s corporate practice and has a strong international presence. According to one client, ‘the international networking and experience that the firm has is an attractive point, as it not only assures me of their quality and standard, but also reliability and proven experience.’ Dewan Faisal sits at the helm of the practice and has substantial experience in both corporate and tax matters. Experienced practitioner Ferdausur Rahman is another key name to note and is a compliance and investment strategy specialist.

Practice head(s):

Dewan Faisal


Other key lawyers:

Ferdausur Rahman


Testimonials

‘The team has real sector knowledge and expertise. Additionally, they also have practical knowledge of the processes of the regulatory authorities.’

‘Ferdausur Rahman is the go-to partner. He understands business needs very well and focuses his advice accordingly.’

‘Diligent in terms of evaluating the case and they provide holistic solutions for clients.’

Key clients

American & Efrid (Bangladesh) Ltd.


Ace Advisory


Alcon


ALS Firms Limited


Amzi & Associates


APM Global Logistics Bangladesh Limited


Banco Securities Limited


Beijing Deheng Law Firm


Beijing Kangda Law Firm


Bangladesh Clinical Trials Limited


Benetton


Bangladesh Freight Forwarders Association


Bangladesh Power Development Board


Bird & Bird LLP


Cactus Materials Limited


Capital Alliance Limited


Khazana Dhaka Limited


Hector Global Limited


China Railway Engineering


IFC


Work highlights


  • Assisted IFC with its support for the Government of Bangladesh and Bangladesh Bank in establishing a dedicated state-owned asset management company.
  • Advised Hector Global Limited on establishing its business in Bangladesh in the most tax efficient manner.
  • Assisted Khazana Dhaka Limited with restructuring the accounts of the company in a legally compliant manner to ensure minimum tax liability.

Doulah & Doulah

Practice head Amina Khatoon, well supported by associate Ariful Islam, is the leader of at Doulah & Doulah‘s tax team. The group in Dhaka provides clients with a one-stop shop and sits within the firm’s finance department, acting on large-scale, high-value transactions of a cross-border nature. It has strong knowledge of the tax system in Bangladesh, particularly tax exemption laws. Sector wise, recent areas of interest for the team include the manufacturing and banking industries. Construction and infrastructure have also been growth areas for the team.

Practice head(s):

Amina Khatoon


Other key lawyers:

Ariful Islam


Testimonials

‘Amina Khatoon is the leader of this tax exemption team. Throughout the whole process she gave professional guidance which helped a lot.’

‘The tax system in Bangladesh is really complicated and it is very difficult to get tax exemption. Under their professional assistance, we did.

Key clients

Bill & Melinda Gates Foundation


Walmart


JC Penney


General Electric


Hyatt Hotels


Miravet


Scatek Solar


Powerchina


CMEC


PepsiCo


Jafpa Comfeed


Work highlights


  • Advised a number of Singapore based institutional investors on performing due diligence in connection to their subscription to BDT22.5bn Beximco Green Sukuk.
  • Assisted Platinum Equity with tax due diligence regarding a successful acquisition of a controlling stake in Hop Lun with a number of manufacturing plants in Bangladesh.
  • Assisted POSCO with completing tax due diligence for an EPC contract being executed with respect to a thermal plant under construction.

TANJIB ALAM & ASSOCIATES

TANJIB ALAM & ASSOCIATES often acts as local counsel for sellers in the acquisition of majority shares of large companies, and frequently handles tax matters related to this. The group is active in issues which run the gamut of tax law, including contentious matters. The firm more widely has substantial experience appearing before the High Court Division, especially regarding matters surrounding tax planning and structuring to avoid tax exposure. Tanjib-Ul Alam and Kazi Ershadul Alam are at the helm, and they are ably supported by Nazmun Islam, who is a standout practitioner for tax matters in the property sector.

Practice head(s):

Tanjib-ul Alam; Kazi Ershadul Alam


Other key lawyers:

Nazmun Islam


Key clients

bKash Limited


United Group


Grameenphone Limited


Marico Bangladesh Limited


STS Holding Limited


Hapag Lloyd AG, Germany


Robi Axiata Limited


Ocean Network Express Bangladesh Limited


Dhaka Stock Exchange Limited


Summit Group


The Law Counsel

Abdur Razzaq, Ehsan Abdullah Siddiq, and Imran Siddiq jointly chair the VAT and tax department at The Law Counsel. This is, in the words of one client, ‘one of few law firms in Bangladesh that has the capability, skill, knowledge and English language ability to advise and handle legal disputes effectively for overseas clients’. The team regularly appears before the High Court, and practitioners in the team have advised major international brands on the applicable tax regime in that country. More broadly, the group’s ‘experience in providing legal services to public authorities and corporations stands out'.

Practice head(s):

Abdur Razzaq; Ehsan Siddiq; Imran Siddiq


Testimonials

‘The educational background, training, and relevant experience in providing legal services to public authorities and corporations stands out. Moreover, The Law Counsel is the most credible law firm in regard to its sincerity and honesty, in my opinion.’

‘The Law Counsel is one of few law firms in Bangladesh that has the capability, skill, knowledge and English language ability to advise and handle legal disputes effectively for overseas clients.’

Key clients

Saudi Arabian Airlines Ltd.


S. Alam Steel Mills Ltd.


Cathay Pacific (Hong Kong)


Cisco Systems Inc, USA


Walmart Inc., USA


Deloitte Customs Korea LLC


IMO


Bigo Technology (Pte) Limited


Summit Alliance Port Limited


Rosatom (Russia)


Work highlights


  • Advised Cathay Pacific on the legality of a penalty imposed by the customs authorities of Bangladesh in respect of the import of a spare wheel by the airlines.
  • Advised Saudi Arabian Airlines on the payment of Advance Income Tax and deduction of VAT at source in respect of services provided by independent contractors.
  • Advising Deloitte-Korea on how ready-made garments exported from Bangladesh to Korea would have the requisite Regional Value Content in order to benefit from the reduced customs duties available in Korea for LDCs.

Vertex Chambers

Vertex Chambers, which was formed in 2011 and continues to increase its market presence in Bangladesh, is run by managing partner Junayed Ahmed Chowdhury. Associate Maliha Ahmed advises clients in a range of countries, such as Australia, Switzerland, and the United States of America. Asif Bin Anwar, who previously merged his solo practice with Vertex Chambers, is a key name to note in the team for appearing in courts, and Ahmed is an advocate of the district and sessions judge court in Dhaka. Sector strengths for Chowdhury, and the wider group, includes the aviation, construction, energy, environment, and corporate sectors.

Other key lawyers:

Junayed Ahmed Chowdhury; Sajeda Farisa Kabir; Tanvir Quader


Key clients

Al Barak Dates Factory LLC


Unilever Bangladesh Limited


Bay Developments Limited


World Bank Group


International Finance Corporation


Compassion International


SAJIDA Foundation


British American Tobacco Bangladesh


Marico Bangladesh Limited


Teach For Bangladesh


The City Bank Limited


Asiatic 3sixty


GE Medical Systems Bangladesh Limited


Louis Dreyfus Company


PricewaterhouseCoopers India


Refinitiv Limited


Standard Chartered Bank Bangladesh


Accord Shipping Limited


PRAN Foods Limited


Southeast Bank Capital Services Limited


Grameenphone


Fondation Hirondelle


Institute of Architects Bangladesh


Jumo Bangladesh Ltd


Migrant Offshore Aid Station


Norwegian Refugee Council


Mutual Trust Bank Limited


RDRS


Deltex Ltd.


KRD Ventures Ltd


Southtech Limited


Excelerate Energy Bangladesh Limited


Teach For Bangladesh


Young Life


Giasuddin Selim


BRAC University


Shirin Spinning Mills Ltd.


Pinsent Masons LLP


Daraz Bangladesh Ltd.


Japan International Co-operation Agency


MSI Reproductive Choices


M/S Poton Traders


Cross World Power Limited


Doreen Power Generations and Systems Limited


Shopfront Limited


Work highlights


  • Advised a client on structuring a transaction which included the Islamic finance product, Sukuk al Musharaka (partnership sukuk) to capitalise on relevant tax benefits currently awarded by the Government of Bangladesh to Islamic finance products.
  • Advised a client on the process of ADR and the interpretation of composite or works contract in light of the former and current value added tax laws of Bangladesh.
  • Representing a client in the taxation law relating to worker’s profit participation fund in light of the Income Tax Ordinance 1984 and Bangladesh Labour Act 2006.