Bangladesh Finance Act 2020 Approved and Published

The Bangladesh National Board of Revenue has published the Finance Act 2020, which was approved by parliament on 30 June 2020. The main tax measures are summarized as follows:

• The corporate income tax rate for non-publicly traded companies, including associations of persons, is reduced from 35.0% to 32.5%;
• A 2.5% surcharge is introduced on all types of tobacco-manufacturing companies;
• New rules are introduced for the taxation of capital gains from the transfer of a business or undertaking i…