Covid-19 – Summary of Measures

Bangladesh

To protect outbreak of COVID 19, Bangladesh government has repeatedly been asking people to stay home in efforts to contain the spread of the novel corona-virus. It also announced closure of all public and private offices, School, College, courts to make people stay indoors. Government taken the following decisions:

1. Educational institutions has been closed down from March 17, 2020 to May 15, 2020 and may be increased up to June end 2020
2. All government, non-government office and autonomous bodies has been suspended and will be under general leave from March 26, 2020 to May 15, 2020 and may be increased up to June end 2020.
3. Public transport like all passenger trains, launches and domestic flights has been suspended from March 25, 2020 to May 15, 2020 and may be increased up to June end 2020, freight trains, cargo vessels, trucks and Lorries carrying goods, medicine, fuel and perishable items will, however, operate as usual.
4. Banking services has been turn down to 10am to 2.00pm,
5. Courts and legal offices has been suspended from March 29, 2020 to May 10, 2020 and from May 11, 2020 virtual court has been set upped.
6. Bangladesh government has declared Financial Stimulus Packages for COVID-19 Response (Contact Mohammad Abu Kawsar for further info: mdkawsar1974@gmail.com).

Government declared aforesaid office suspension will be considered as general leave and employees of respective institutions will be eligible to get salary and allowances as normal procedure.

On the other hand we are the registered member of The Institute of Chartered Accountants of Bangladesh (ICAB). For audit and assurance services ICAB has been developed a check list to consider during audit to assess risk and to minimize audit risk at reasonable label (Contact Mohammad Abu Kawsar for further info: mdkawsar1974@gmail.com).

In Bangladesh for different goods and services has three VAT rates like 15% ,10% and 7.5%.

Tax rats are:

For resident Individual	10% to 30%
For non-resident Individual	30%
List Company	25%
Non-listed Company	35%
Cooperative Society	15%
Mobile operator & Tobacco company	45%
Listed Bank, Insurance & NBFIs	37.50%
Non-Listed Bank, Insurance & NBFIs	40%
Surcharges for exceeding net wealth Taka 50 million	10% 30%

If you have any questions regarding this or any of the other initiatives offered to those affected by the current disruption, please contact Mohammad Abu Kawsar at mdkawsar1974@gmail.com.