Government of Nepal and the Government of Bangladesh have signed an Agreement on the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income. The settlement in tax claims of Government of Nepal and the Government of the People’s Republic of Bangladesh would eliminate double taxation, promotion of bilateral trade, persons, services and capital investment.

Lal Shanker Ghimire, Secretary (Revenue) of the Ministry of Finance and Mosharraf Hossain Bhuiyan, Senior Secretary, Internal Resources Division, Ministry of Finance and Chairman of the National Board of Revenue on behalf of the Government of Nepal and Bangladesh signed the agreement on behalf of their respective Governments.

This agreement will make a long term effect as the two countries are members of SAARC and other regional organizations too. This was stated in the press release issued by Ministry of Finance.

Finance Minister Dr. Yub Raj Khatiwada, and Ms. Mashfee Binte Shams, Ambassador of People’s Republic of Bangladesh to Nepal were also present during the signing ceremony. Matters of mutual interests and cooperation were discussed during the meeting.