US And Bangladesh Enter Into Bilateral Tax Treaty

by Leroy Baker, Tax-News.com, New York

29 September 2004

A new income tax treaty between the United States and the People's Republic of Bangladesh was signed in Dhaka on Monday, the US government announced.

The treaty was signed by Ambassador Harry Thomas, on behalf of the United States, and Khairruzzaman Chowdhury, Secretary of the Internal Resources Division of the Ministry of Finance and Chairman of the National Board of Revenue, on behalf of Bangladesh.

According to the US Treasury, the treaty represents another advance in its ongoing efforts to expand the US tax treaty network by establishing new tax treaty relationships with emerging economies.

The new treaty with Bangladesh generally follows the pattern of the US model tax treaty and recent US tax treaties, including recent agreements with other developing countries.

The treaty will be sent to the Senate for its advice and consent to ratification. If the Senate acts favorably and the treaty enters into force, it will represent the first tax treaty in force between the two countries.

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