ICAB PL Business Planning Taxation And Compliance Practice Questions - ICAB CA Professional Level Business Planning Taxation And Compliance (Bangladesh) Exam

Under the Income Tax Act 2023, which condition classifies a limited company as a 'resident company' in Bangladesh?

More than 50% of its board of directors are Bangladeshi passport holders At least 51% of its gross turnover is earned from sales within Bangladesh It is incorporated under the Companies Act of Bangladesh or its control and management of affairs is situated wholly in Bangladesh It maintains a registered liaison office approved by BIDA in Bangladesh

Correct Answer:

It is incorporated under the Companies Act of Bangladesh or its control and management of affairs is situated wholly in Bangladesh

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