Debatosh Nath
Banani
Summary
Results-driven tax professional with 27 years of extensive experience in tax, accounting, and financial analysis. Currently serving as General Manager (Tax & Accounts) at Bang Jin Group, demonstrating a proven track record of optimizing tax strategies and ensuring compliance. Expertise includes preparing general tax returns, managing source tax calculations, and excelling in tax audits and appeal case filings. Achieved a reduction of BDT 100M in company taxes by identifying recurring report errors, consistently surpassing tax goals while maintaining 100% accuracy. Proficient in Microsoft Office Suite, ERP, Tally, and MMS software; fluent in Bengali and English. Aiming to leverage skills to drive operational excellence and implement tax reduction strategies in local or multinational organizations in Bangladesh.
Overview
20
20
years of professional experience
4
4
Certifications
1
1
Language
Work History
General Manager-Tax & Accounts
Bang Jin Group
03.2016 - Current
- Monitoring yearly TAX return works prepared to support all documents for return submission.
- Preparing and finalization of Audited Financial Statements with statutory compliance like TAX.
- Performing regarding TAX deduction rate and rules also.
- Controlling the company's fiscal activity, including budgeting, reporting and auditing.
- Supervising the implementation of budgetary control financial reporting.
- Maintaining timely preparation & analysis of all financial statements; Developing MIS reports.
- Reviewing financial report for Overhead to reduce cost and increase efficiency.
- Ensuring maximum profitability of the company; Developing and standardized accounts process.
- Monitoring day to day accounting and following up with team members.
- Preparing and Finalization of Financial Statement in accordance.
- Verifying all contractors' payments-running account bills, purchases and expense bills.
- Preparing DCT, IACT, CT general level hearing, Appeal Case filing, tribunal, hearing, TAX return, Audit & inspection program on business processes to be reviewed.
- Performing follow-up reviews of audit & inspection recommendations.
- Supporting fixed assets accounting and schedules for physical verification.
- Developing Standard of Procedures for Financial Processes.
- Prepared income tax annual return, Appeal, Tribunal, ADR on behalf of the client.
- Supervised and submitted withholding Tax against 75A, 108 and 108A returns as per old law income tax ordinance 1984 which is now submitting under SRO 161-AIN/Incometax-36/2024, Tafsil 1-2-3-4.
- Participation in conducting and completing tax compliance and advisory services following prevailing tax laws and regulations and internal policies.
- Effective communication with Senior Management at each stage of conducting the above services.
- Management of the performance of each engagement and coaching junior team members.
- Review of necessary documentation prepared by junior team members.
- Review required reports for allocated engagements such as tax compliance and advisory services.
- Key Achievements:
- Reduced 40% tax for B.j. Geo Textile; Bang Jin (Bangladesh); B.J. Bed Company; B.J. Bed Weaving; B.J. Trading Ltd; BangJin Padding & Quilting; Universe Synthetic Fiber; Universe Synthetic; Bangkok Cable Bangladesh; Bangladesh Research Testing; Bang Jin Industrial Park; High Tech Bangladesh Ltd.
General Manager-TAX & Accounts, Chief Accountant-TAX & Accounts, TAX Accountant
Seamark Group of Companies
08.2005 - 03.2016
- Oversees the Tax, general accounting function, including Payroll, Billing/Credit/A/R, A/P, Bank accounting and operations, Book close, Audit, General Ledger Management, inter-company accounting, financial reporting, balance sheet management for company entities.
- Developed, implemented, and maintained internal control procedures to provide reasonable assurance that the company assets are protected.
- Prepared Income statements and Balance Sheets for the group's income tax return.
- Coordinated and oversees activities related to internal controls documentation, testing, and segregation of duties.
- Maintained tax compliance includes withholding Tax, advance tax, return u/s 180, & under SRO 161-AIN/Incometax-36/2024, Tafsil 1-2-3-4 and annual tax return and dealing with tax authority for necessary tax clearance under new Income tax act 2023.
- Ensured that company financial records and reports from that place under responsibility are maintained in compliance with company policies, IFRS.
- Reviewed monthly/quarterly account reconciliations and other documents to ensure this compliance.
- Ensured compliance of applicable taxes, viz., tax, withholding taxes, VAT, Service Tax, and all regulatory reporting is completed timely and accurately. The accounting and reporting align with the applicable accounting standards and completion of required statutory reporting.
- Coordinated external & internal reporting; assumed principal responsibility for improving and standardizing financial consolidation and reporting processes.
- Performed all the functions of the group's overall Finance, Taxation & Internal and external audits with periodic reviews of the company financial records.
- Involved in validating suggested changes to ensure accounting requirements continue to be met.
- Ensured the accounting department was staffed with qualified financial personnel capable of meeting the objectives above.
- Works closely with cross teams to ensure decision-making is based on the most relevant and timely information available.
- Assisted as required to support budget and forecast assumptions.
- Preparing accurately and filing federal and state tax returns on time.
- Developed tax strategies to assist clients in being tax-compliant.
- Completed responses and schedules in preparation for tax audits.
- Monitored developments in tax legislation and reviewed tax returns.
- Informed management and staff of developments in tax legislation.
- Supervised tax team members to ensure that tax returns were completed correctly.
- Key Achievements:
- Completed Tax related matters including annual return, tax compliance Appeal, Tribunal with the tax office for logistics export ltd, Ibco Food Industries Ltd, Seamark BD Ltd, Seamark holdings ltd.
Education
Master of Business Administration - Accounting, Finance & Banking
Southern University
01.2012
Bachelor of Laws - undefined
National University
01.2010
Masters of Commerce - Accounting
Chittagong University
01.1991
Bachelor of Commerce - Accounting
01.1990
Skills
Clear communication
Certification
05 days Executive Development Training on "New VAT Law (VAT online)" organized by the institute of cost and management accountants of bangladesh (icmab) Dhaka Branch Council.
References
- Shibatosh, Nath, BCS, Principal, +8801716792905, Barura Shahid Smrity Govt. College
- Mohammad Saif, Uddin, FCA (ICAB), (ICAEW), Partner, +8801819 380455, Saif Kashem & Co. Chartered Accountants, Delwar Bhaban, 3rd Floor, 104, Agrabad C/A, Chattogram
Affiliations
Dhaka & Chittagong Taxes Bar Association
Personal Information
- Date of Birth: August 29, 1970
- NID: 6427478950
- Home District: Chittagong
Timeline
General Manager-Tax & Accounts
Bang Jin Group
03.2016 - Current
General Manager-TAX & Accounts, Chief Accountant-TAX & Accounts, TAX Accountant
Seamark Group of Companies
08.2005 - 03.2016
Bachelor of Laws - undefined
National University
Masters of Commerce - Accounting
Chittagong University
Bachelor of Commerce - Accounting
Master of Business Administration - Accounting, Finance & Banking
Southern University