Deal with Swiss govt signed to avoid double taxation

Bangladesh and Switzerland yesterday signed an agreement for avoidance of double taxation, paving the way for improved economic relations between the two countries.
Internal Resources Division (IRD) Secretary and National Board of Revenue (NBR) Chairman Muhammad Abdul Mazid and Swiss Ambassador to Bangladesh Dora Rapold signed the agreement on behalf of their respective sides at the NBR conference room, said a press release.
The signing of the agreement marks an important landmark in bilateral economic cooperation. The agreement is expected to contribute to favourable conditions for Swiss investments in Bangladesh.
A number of large Swiss companies have investments in Bangladesh since independence in different sectors such as pharmaceuticals, food and dairy, cement, etc. Swiss investment in the country now stands at US$ 118.49 million.
A business body called `Switzerland Bangladesh Business Forum' (SBBF) was formed in Dhaka in 2004 to facilitate trade and investment cooperation. Currently, the forum has 32 members.