Double taxation avoidance deal with Switzerland

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FE Report
Bangladesh and Switzerland will sign an agreement on avoidance of double taxation next week to bolster bilateral trade, commerce and investment.
Md Abdul Mazid, secretary of the Internal Resources Division and chairman of the National Board of Revenue (NBR), and Dora Rapold, Swiss ambassador to Bangladesh, will ink the agreement on behalf of their respective governments on November 10, sources said.
They said it will help Bangladesh attract more foreign direct investment from Switzerland, as the foreign investors of that country will not be required to pay double tax.
Besides, sources said, such agreement with any country, especially with any EU country will benefit the exporters to a large extent.
When asked, a source of the Export Promotion Bureau (EPB) said Bangladesh exported various products including knit and woven garment, agro-processed and frozen foods worth $31.24 million to Switzerland in the last fiscal 2006-07.
The foreign ministry officials said Bangladesh has already signed agreement on avoidance of double taxation with nine EU countries, including Belgium, Denmark, Germany, Italy, the Netherlands and Poland.