As part of our commitment to supporting women-led businesses, the Women Entrepreneurs Business Support Center under WeFi initiative of World Bank organized an in-person mentorship session on 22nd October 2024 at our Banani, Dhaka office. This one-on-one mentorship program focused on Yearly Tax Assessment & Legal Affairs, providing women entrepreneurs with the necessary tools to manage their taxes efficiently and ensure legal compliance.
🔹 Objective of the Mentorship Session
Many women entrepreneurs face challenges in tax submission, VAT compliance, and legal business structuring. This mentorship session was designed to:
✅ Educate entrepreneurs on the e-Return Portal – helping them understand and submit their tax returns independently.
✅ Solve business formation and compliance issues, including trade license renewals, VAT registration, and corporate taxation.
✅ Provide personalized legal and financial guidance based on the business models of each participant.
🔹 Participation & Key Takeaways
🔸 Number of Participants: 13 Women Entrepreneurs
🔸 Mentors:
✔ Aman Ullah Sarker – Founder & CEO, Income Tax BD
✔ Mahdi Talukder – Head of Business Operations, BreakBite eBusiness Ltd.
🔹 Key Learnings from the Session
The interactive mentorship was structured around real-world challenges faced by entrepreneurs in tax and legal compliance:
1️⃣ Understanding the E-Return Portal
🔹 Entrepreneurs were guided step-by-step on using the National e-Tax Return Portal for filing their own tax returns.
🔹 Hands-on demonstrations were provided to help them become self-sufficient in the tax filing process.
2️⃣ Navigating Legal Business Formation
🔹 Entrepreneurs struggling with company formation, trade license renewals, and VAT registration received one-on-one guidance.
🔹 Case Study: One participant, who was operating a home-based e-commerce business, was guided on transitioning to a registered entity, helping her access corporate opportunities and financial benefits.
3️⃣ Addressing Tax & Financial Challenges
🔹 Many entrepreneurs faced uncertainty about tax rates, exemptions, and deductions.
🔹 Case Study: A participant exporting handmade jute products was guided on VAT exemptions applicable to handicrafts and how to claim tax benefits under existing policies.
4️⃣ Legal Compliance & Risk Management
🔹 Entrepreneurs learned how to safeguard their businesses from legal disputes by ensuring proper documentation and compliance.
🔹 Case Study: A restaurant owner struggling with unexpected tax demands received tailored advice on maintaining proper tax records and claiming rebates.
🔹 Why This Mentorship Matters
Taxation and legal affairs are often perceived as complex and challenging for small business owners. By equipping women entrepreneurs with essential financial literacy, we are empowering them to make informed business decisions, avoid penalties, and ensure long-term sustainability.
🔹 Looking Ahead
We are committed to expanding our support through:
✅ More hands-on mentorship sessions on tax, legal compliance, and financial management.
✅ Follow-up digital workshops to address specific industry-based taxation and legal concerns.
✅ Exclusive business development programs for women entrepreneurs.
🚀 Stay Connected & Get Support!
If you missed this session or need further assistance, our Business Support Center is always here to help. Contact us for free one-on-one business mentorship and expert guidance.
📍 Visit us at: Business Support Center, Banani, Dhaka
📞 Call for support: +01847270706
🌐 Learn more: breakbite.com/wsme
Join us in creating a stronger, legally compliant, and financially stable women entrepreneur ecosystem in Bangladesh! 🚀
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