The hospitality and tourism industry in Bangladesh is at a crucial inflection point, marked by high growth potential alongside unique local challenges. Key pain points we observe include:
Hotels face inflated expenses due to commercial (rather than industrial) utility tariffs for gas and electricity, and heavy reliance on imported materials (construction, fixtures, high-end F&B), significantly eroding competitiveness compared to regional peers.
Navigating Bangladesh’s tax structure, including intricate VAT, Withholding Tax (WHT) on services (like rent, catering, and consultancy), and licensing requirements (e.g., Hotel and Restaurant Rules 2016, BSTI certifications) demands highly specialized expertise.
A critical shortage of locally trained mid-to-senior management results in expensive foreign hires and inconsistent service quality, which hinders global competitiveness and brand standards.
While large investments are being made, issues like high land prices in prime urban areas and the need for robust environmental compliance in emerging eco-tourism zones (like Kuakata or the Sundarbans) pose financial and sustainability risks.
The Meetings, Incentives, Conferences, and Exhibitions (MICE) segment and the adoption of smart hotel technology (IoT, digital check-in, dynamic pricing) remain underdeveloped, slowing revenue maximization.
Shubhankar & Co. provides end-to-end consulting, audit, and advisory services tailored to unlock profitability and ensure compliance within the Bangladeshi hospitality landscape.
Deep-dive analysis to identify import substitution opportunities (local sourcing), negotiating utility tariff reclassification, and implementing best-in-class inventory management for high-cost F&B.
Comprehensive compliance planning for VAT (including turnover tax thresholds), WHT management on rents and service payments, and securing appropriate licenses (MoCAT, RJSC) to mitigate penal risks under the Hotel and Restaurant Act 2014.
Delivering high-quality statutory audits that align with Bangladesh Financial Reporting Standards (BFRS) and international best practices, ensuring stakeholder trust for foreign investment.
Providing data-driven market forecasts, location selection, and financial modeling for new hotel/resort development, focusing on high-potential segments like MICE and eco-tourism.
Our dedicated Hospitality Practice Group leverages specialized knowledge and proprietary tools to serve clients ranging from 5-star international chains to local eco-resorts.
Unmatched understanding of the Bangladesh Investment Development Authority (BIDA) processes, National Board of Revenue (NBR) codes for VAT and WHT, and local licensing mandates (Trade License, Fire Safety, BSTI).
Expertise in developing robust financial models for complex capital investment decisions (new construction, expansion) and projecting revenue streams based on domestic and regional tourism trends.
Consulting on the strategic implementation of Property Management Systems (PMS), Point of Sale (POS) integration, and yield management software to drive revenue per available room (RevPAR).
Specialized advisory to manage complex payroll structures involving expatriate management and local staff, ensuring compliance with labor laws and associated WHT on salaries.
We are more than accountants; we are strategic partners in your growth story.
We follow a structured, results-oriented process to ensure clarity, efficiency, and measurable impact for every hospitality client:
Step 1: Diagnostic & Discovery
We begin with a detailed review of financial structures, tax liabilities, and workflows—identifying 3–5 key pain points such as WHT leakage or inventory cost variance.
Step 2: Strategy & Compliance Roadmap
Next, we design a customized compliance calendar and cost optimization plan, aligning VAT returns, annual filings, and license renewals with your operational goals.
Step 3: Implementation & Integration
Our team assists with NBR submissions, system integration (PMS/POS–accounting alignment), and staff training to ensure smooth adoption and compliance.
Step 4: Monitoring & Reporting
We provide regular KPI-based reports (GOPPAR, RevPAR, occupancy), conduct tax health checks, and hold bi-annual strategic reviews to keep your business optimized and future-ready.
