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Date:
The Deputy Commissioner of Taxes
Taxes Circle-316 (Company),
Taxes Zone 15, Dhaka.
Subject: Application for seeking permission to follow 1st September to 31st August as the financial year.
Dear Sir,
With reference to the subject mentioned above, we JB Connect Ltd. (RJSC Reg. No. C-193306, Reg. Date: 28-JAN-24) at Tower- 52, Level- 4, Road-11, Block-C, Dhaka-1213, Bangladesh is a 100% foreign owned company having TIN no.: 366646248403.
Our parent company (BBS TECH GLOBAL PTE. LTD. which is incorporated in Singapore, Registration Number: 202338357H) maintains the financial year from 1st September to 31st August, we are required to follow the same financial year for consolidation of our accounts with the parent company.
As per Income Tax Act, 2023 section-2(15), “Provided that the Deputy Commissioner of Taxes may allow a different financial year for a company which is a subsidiary, including a subsidiary thereof, or a holding company of a parent company incorporated outside Bangladesh or a branch or liaison office thereof if such company requires to follow a different financial year for the purpose of consolidation of its accounts with the parent company”.
It is mentionable that, the board of directors has agreed to change the financial year and decided to follow the financial year from 1st September to 31st August, the same as the parent company.
Therefore, it is requested to accept our application as well as provide the necessary approval to change the financial year change of JB Connect Ltd.
Yours faithfully,
🗸
______________
Kengo Ohtsuka
Managing Director
JB Connect Ltd.
Enclosed:
Consolidated Financial Statement of the parent company;
Incorporation Certificate;
MOA & AOA;
Form XII;
Board Resolution;
TIN Certificate.