Dhaka, Male to sign DTAA

Bangladesh and Maldives signed an agreed minutes on Wednesday to ink a double taxation avoidance agreement (DTAA) between the two countries. After a second phase of meeting, representatives of both the countries reached a consensus on signing the agreement, said a statement issued by the National Board of revenue (NBR) in Dhaka. NBR member (international taxation) Arifa Shahana and Maldives' Internal Revenue Administration Deputy Commissioner General Hasan Zari signed the agreed minutes at the BCS Tax Academy in the city. Once the DTAA is signed, the bilateral trade and investments between the two countries would boost, said the statement. "Investors of both of the countries will be encouraged to invest as the agreement will help them avoid payment of taxes twice on the same income," it added. Bangladesh already signed DTAAs with 35 countries to facilitate the investors. The NBR said some 0.1 million people from Bangladesh are currently working in the Maldives.

— FE Report