Explanation for non-submission

Date: June 22, 2022 Ref.: TOA-BGD-BRN-2022095 Deceleration for non-Submission of Tax Clearance Certificate For the Assessment Year 2020-2021 TOA CORPORATION has established a branch office in Dhaka, Bangladesh for contract for civil engineering works, building works and other general construction works, and research, planning, surveys, design, supervision, management, and consulting service related thereto after obtaining necessary approval from concerned authority and take Branch opening permission of the Bangladesh Investment Development Authority vide Ref No: OPN-03Nov2019-00001 dated 05 January 2020. This permission is effective from 14.11.2019. We obtained Electronic Tax Payer’s Identification Number Certificate (E-TIN: 657828790251) from National Board of Revenue on January 12, 2020. It is mentionable that the income year of TOA CORPORATION, Bangladesh Branch Office has been changed as per section 2(35) (g) of Income Tax Ordinance, 1984 from 1st April to 31st March and we have completed our 1st Annual statutory Audit from 14 November 2019 to 31st March 2020. Due to the Covid-19 outbreak, we could not complete the Annual Statutory Audit in the proper timeline and the Annual Statutory Audit has been completed on 06 April 2022. We have submitted all documents to the Tax office on 27th April 2022 for the Tax assessment of the assessment year 2020-2021. And the Tax assessment is under process in the deputy commissioner of Taxes, Taxes Cercle 227 (Company), Taxes Zone-11, Dhaka. Therefore, I do hereby declare that the Tax assessment of TOA CORPORATION is under process, and of Tax Clearance Certificate will be submitted to the concerned authorities after receiving the Tax Clearance certificate from NBR. For and on behalf of, TOA CORPORATION ______________________ Mitsuhiro TORII General Manager Bangladesh Office