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City Corporation Ideal Tax Schedule 2016 introduced

If you remember, just last year, government introduced the City Corporation Ideal Tax Schedule 2015. However, within a year, government is introducing a new Tax Schedule repealing the last one.

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has been actively lobbying for lowering the tax rates fixed by the Schedule of 2015.

The amount of tax has changed slightly. In most cases, the amount of tax become less, however, it certain areas, government increased the tax.

This Tax Schedule would be applicable to the City Corporations of the Country. [Read more…] about City Corporation Ideal Tax Schedule 2016 introduced

Public Issue Rules 2015 issued by Bangladesh Securities Exchange Commission

Bangladesh Securities and Exchange Commission on December 28, 2015, issued Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015 (the “Rules”). The previous regulation was the Securities and Exchange Commission (Public Issue) Rules, 2006, which is now repealed.

Key highlights of the Rules

Application for IPO may be made on any of the following methods:-

  1. fixed price method, when offered at par value; or
  2. book-building method, when offered above par value.

The definition of “Eligible Investor” (the “EI”) has been expanded.

Now the EI means- [Read more…] about Public Issue Rules 2015 issued by Bangladesh Securities Exchange Commission

Bangladesh Bank introduces new rules for investment in Alternative Investment Fund by banks

Through DOS Circular No. 02 dated 24 November, 2015, Bangladesh Bank introduces the new rules.

The rules applicable to investment in non-listed special purpose fund/funds (Special Purpose Vehicle, Alternative Investment Fund or similar, stated as such fund(s) henceforth) which are registered with Bangladesh Securities and Exchange Commission (BSEC).

According to the rules, scheduled banks will abide by the following conditions while investing in the above mentioned fund(s) –

1) The total investment in such fund(s) made by any scheduled bank shall be limited up to Tk. 2 (Two) billion. [Read more…] about Bangladesh Bank introduces new rules for investment in Alternative Investment Fund by banks

Trademark Act 2009 got amended

Government recently passed a law amending the Trademark Act 2009. On November 21, 2015 it was published on the gazette.

This is a minor amendment. Highlights of the changes are-

Section 3: Trademark Registry wing of Department of Patents, Designs and Trade Marks is renamed as Trademark Unit.

Sub section 10(5): this sub section prohibits registration of trademark which violates “well-known registered trademark”. New amendment includes “similar or confusingly similar or translation of trade description of a well-known registered trademark”. [Read more…] about Trademark Act 2009 got amended