In a major move enhancing bilateral cooperation, Nepal and Bangladesh signed a new memorandum that would avoid double taxation for the two nations.
The two nations signed the Double Taxation Avoidance Agreement (DTAA) on March 05, 2019 at a special ceremony held at the Ministry of Finance, Singha Durbar.
Revenue Secretary Lal Shanker Ghimire and his Bangladeshi counterpart were present at the occasion.
The new deal will now benefit investors, students and employees of both the nations, exempting them from paying double taxes at the host and home countries, separately.
Upon implementation of this policy, tax payers of both nations can just show their tax clearance documents of the payment made in their working country and enjoy the policy advantage in the other country.
This will also benefit investors of both countries while investing in each other’s development projects.
Hope the new deal will strengthen Nepal-Bangladesh bilateral relations further in realizing the benefits of mutual cooperation across areas of development.