12th June 2024
The Deputy Director
Foreign Exchange Investment Department
Bangladesh Bank
Head Office, Dhaka-Bangladesh.
Through: Bank Asia, Banani Branch, A.R. Tower, 24 Kemal Ataturk Avenue, Banani, Dhaka-1213.
Subject: Explanation for Non-Submission of Tax Clearance Certificate for 2023-2024 Under Section 18B of Foreign Exchange Regulation (Amendment) Act, 2015 on Renewal of Permission to Operate the Liaison Office A/C: NICCA CHEMICAL CO. LTD.
Dear Sir,
We, Nicca Chemical Co., Ltd. (Liaison Office), a Japanese company, are pleased to inform you that we have established a Liaison Office in Bangladesh, registered under the Bangladesh Investment Development Authority (BIDA) with Ref No: OPN-04Feb2021-00001 dated 11 March 2021.
Recently we have received a notification under Section 18B of the Foreign Exchange Regulation (Amendment) Act, 2015, regarding the renewal of our Liaison Office's operating permission. The notification, referenced as FEID/Branch/729/4 (L-1836)/2024-1731, instructs us to submit a copy of our Income Tax Clearance Certificate for the Assessment Year 2023-2024 at the earliest convenience.
We wish to inform you that we have submitted the Income Tax Return for Nicca Chemical Co., Ltd. (Liaison Office) for the Assessment Year 2023-2024. Currently, the return is under assessment, and we have attended the necessary hearings at the Tax Office. As the process is still ongoing, we are unable to provide the Income Tax Clearance Certificate for AY 2023-2024 at this moment.
Considering this, we kindly request your understanding and acceptance of this explanation. We have attached the Acknowledgement Receipt for AY 2023-2024 for your reference. We assure you that we will submit the Income Tax Clearance Certificate as soon as it is issued.
We appreciate your understanding and cooperation in this matter.
Sincerely yours,
🗸
________________
Kotaro Takeuchi
General Manager
NICCA CHEMICAL CO., LTD.
(Bangladesh Liaison Office)