With a population of 163 million people, Bangladesh has many thriving industries including textiles, farming and shipbuilding. There are many different types of companies that can be established there, and with tax rates ranging from 25 – 45% for corporations depending on the industry and type of company.
Some labor and payroll considerations in Bangladesh:
- A letter of appointment is required when hiring employees. If a written contract is not provided, the letter of appointment is considered the contract
- Minimum wages are determined by industry, but Bangladesh also has a general minimum wage of BDT 1,500 per month ($17 USD)
- Income tax must be withheld from employee pay
- Work permits are issued to foreign nationals by the Bangladesh Investment Development Authority, the Bangladesh Export Processing Zones Authority, or NGO Affairs Bureau (if hiring by an NGO)
- There are limits by sector on the number of foreign workers allowed
Managing employee payroll and compliance in Bangladesh can be complicated. Blue Marble has simplified payroll in more than 145 countries with our cloud-based technology, customized monthly reporting, and in-country experts. You can view payroll in real-time, across all countries and currencies, and have direct access to our in-country experts when questions come up. See how easy payroll in Bangladesh can be with Blue Marble – click here to learn more