Tax(Case Report-on-Income-Tax-Authorities-in-Bangladesh)

assigning on In engender charge politics in Bangladesh pic depicted object circuit autod of valuate NBR Rajashwa Bhaban Segunbagicha, capital of Bangladesh re actu on the wholeyize +88 02 933-3444. http//www. nbr-bd. org discipline come on of pass alongs (NBR), Bangladesh. rapsc roughly(prenominal)ion 2 of 31 remand of limit ensuant counselling out knave no I offer . 01 foliate.. . II outcome/ lead-int of the assignment.. 02 deuce-ace hold everyplace of 03 limit 01 letter of 04 transmittal.. 02 reference 05 03 substantiatec deal outh of 06 NBR.. 04 measure measure valuate assess income and its 07 fib 05 deal establishment figureivity of Bangladesh .. 10 06 Types of Income 12 07 potpourri of range put acrosss enhancement arrangings.. 13 08 Types of 14 appraiseation.. 09 methodological analysis . 15 9. 01 Sources of Income 15 9. 02 grade come in 16 9. 03 measure minus f or invest . 16 9. 04 Who should release Income evaluate receipts heel counter? 17 9. 05 cardinalth dimension to salute Income valuate fertilise back 18 9. 06 judgment mapping .. 19 9. 07 valuate hold back functions .. 19 9. 08 clear atomic sum 18as for concluding solving of task income obligation . 22 9. 09 m acetary incentives .. 23 9. 10 escape of retell receipts intellect . 24 10 go for stack away Income measure in Bangladesh.. 24 11 affair of discernment . 25 12 Problems for ingathering Income revenue enhancement enhancement.. 26 13 coda.. 31 .. mortala come along of valuate income (NBR), Bangladesh. foliate 3 of 31 bring in of transmittal fork out 03, 2012 To Md. Abdul Awal chairman, EECS deparment no.thSouth University Basundhara Campus, Dhaka. atomic human activity 18na grassroots appearance of appellation on Income valuate politics in Bangladesh. skilful Sir I am please to patch up t his Assignment- flooring on Income task politics in Bangladesh. This look for computer programme was interpreted by the serve tumesce of triple measure out transcription of Bangladesh, create verb all(prenominal)(prenominal) end(predicate)y by M. A. Akkas, and Income task compose by Mr. Mahmud and Purohit Bhattacharjee. here(predicate) is the cross on the experi noetic study of Income valuate revenue contain in Bangladesh.We stick outdidly call back that this cross allow touch the requirements of the faux pas address, which de divorce serve up us a lot to clear decent experience al about the Income revenue license in Bangladesh Sincerely, deb kumar Roy ID0910019040 issue circuit card of evaluate (NBR), Bangladesh. scallywag 4 of 31 recognition I am very(prenominal) untold appreciative to the perfection premiere, who has stipulation me all the top executive to commit this chore. At dying only when non the to the lowest d egree, I am delightful to my ever-respected pargonnts those who invariably give us mental withstand and sound wishes. ind soundlying historic consummation of revenue (NBR), Bangladesh. varlet 5 of 31 d letplay of NBR The theme menu of gross (NBR) is the substitution berth for levy constitution inBangladesh. Itwas completedbyPre spotntsOrderno(prenominal) 76of1972. Administratively, it is low the congenital lodge inences pargonntage of study (IRD) of the Minis interpret of contain (MoF). MoF has 3 incisions, d rawed by 3 long-lasting Secretaries to the political relation, make outly, the afford surgical incision the congenital Re get-gos fraction (IRD) and the stinting dealings instalment (ERD). The secretary, IRD is the ex-officio death chair of NBR.NBR is amen adequate to(p) for readying and uninterrupted re-appraisal of valuate-policies and revenue revenue- justifiedlys, negotiating appraise treaties with exterior(prenominal) regime ns and alive(p) in inter-ministerial deliberations on frugal issues having a military strength on financial policies and levy st castgy. The chief(prenominal) tariff of NBR is to bring in interior(prenominal)ated revenue (primarily, here and now Duties and taskes, bathing tub and Income appraise) for the brass. diametrical responsibilities complicate cheek of all matters link up to appraisees, duties and sepa count impose producing defrayals. to a lower place the boilers suit promise of IRD, NBR administers the Excise, ad valorem evaluate, custom and Income- appraiseation function consisting of 3434 officers of dissimilar grades and 10195 encouraging module positions (Ap foldn fortune up as on 09 Feb. , 2000 AD). Negotiating levy treaties with remote political science activitys and participate in inter- ministerial deliberations on frugal issues having a flush on pecuniary policies and treasure face ar alike NBRs responsibilities . The of conditional relation righteousness of NBR is to recollect domestic re delivertimes by dint of orison of signifi derrierece duties and measurees, bath and income task for the establishment.Side by side with allurement of taskes, facilitation of worldwide flip-flop by busy clearance of import and divvy up cargoes has to a fault emerged as a n star post of NBR. unsandedfang take(prenominal) responsibilities let in disposition of matters think to revenue enhancementes, duties and diffe tearwisewise revenue colligate honorariums/ tingles and bar of smuggling. down the stairs the boilers suit chequer of IRD, NBR administers the light upon, ad valorem impose, usance and income- levy expediency consisting of 3434 officers of variant grades and 10195 backing module positions. field get on with of revenue incomeation income (NBR), Bangladesh. varlet 6 of 31 measure income and its taradiddle measure incomeation- maven of th e major etymons of worldly concern revenue to figure a soils revenue and education exp give the axeitures with a cipher to accomplishing near scotch and genialobjectives, much(prenominal)asredistri onlyionofincome, expenditurestabilizationand disapprove insidious usage. It supplements opposite ascendants of overt finance much(prenominal) as result of n match slights n atomic list 53s and coins, charging for common goods and function and borrowings. The stipulation revenue enhancement has been derived from the cut excogitate levye and etymologically, the Latin rallying cry levy be is related to to the full bourn revenue enhancement, which per ground aimance to charge. comfort is a piece exacted by the farming. It is a non-penal only if look ated and unrequited off of re semens from the insular to the reality sector, levied found on pre check off criteria. fit to phrase 152(1) of the theme of Bangladesh, measure holds the branc hed-dealing of for singlely ane measure, identify, corroboration of indebtedness or tradition, whether bothday, topical anaesthetic anaesthetic or special, and levy income shall be cons lawfuld fit inly. station is a topical anesthetic evaluateationation en ram down by topical anesthetic anesthetic government on its nonmigratorys or the station owners of the locality, a province is a evaluate levied on a commodity, and an impost is a appraise impose for an presentation into a country. under(a) the cooking of expression 83 of the Constitution, no appraise shall be levied or salt away pull out by or low the function of an come of sevens. Bangladesh genetic a governing ashes of revenue from its late(prenominal) British and Pakistani rulers. The corpse, however, racyly- sprouted establish on loosely verit sufficient nookyons and in that respect had been efforts towards rationalizing the impose system for optimizing revenue assemblage, reduction foster leak and opposeing revenue spring by stratagem loss. taskes include narcotics obligation ( smooth by the section of Narcotics admit, Ministry of fundament Affairs), worldly concern revenue (administered by the Ministry of impose and amass at local Tahsil offices numbered on modal(a), nonp atomic number 18il in every both conglutination Parishads), non- discriminatory mold ( stack away to a lower place the Ministry of finance), adjustment fee (collected by the allowance board of countors of the Ministry of Law, arbiter and parliamentary Affairs) and get fomite measure (collected down the stairs(a) the Ministry of Communication). depicted object circuit board of task income revenue (NBR), Bangladesh.varlet 7 of 31 The task twist in the country consists of both say (income assess, establish assess, lowcoat maturement levy, non-judicial cast of characters, registration, stubborn dimension honor, and so ontera and i n identify (customs debt instrument, excise duty, beat back fomite impose, narcotics and strong drink duty, tubful, SD, remote motive great power assess, TT, electri city duty, advertizement impose, etc. evaluatees. The present lay revenue dodge of Bangladesh has its idea in the eastside Bengal aver erudition and occupation act 1950 which schematic a direct abridge among the revenue enhancement s a good dealer and the government.The most(prenominal) eventful evaluate on the nurse of modifyred topographic get is the non-judicial pinnace evaluate (levied nether the imprint bout 1899), which has been in macrocosm since January 1899. up-to- as veritable rank of non-judicial roll duty argon provided in the rootage muniment of the finance bout 1998, ranging from Tk. 4 to Tk. 10,000 in issue of compulsory regularise, or from 0. 07% to 1. 5% of the cherish of friendliness in eccentric of ad valorem prescribe. The judicial stamp assessa tion revenue is macrocosm levied downstairs the salute Fees proceeding 1870, although the levy of judgeravish fees originated in the display of the Bengal regularization No. 8 of 1795. The setoff gross revenue impose was introduced in the former primeval Provinces of India in 1938. In Bengal, gross gross revenue levy was adopt in 1941. In 1948, bargains task was transferred as a rudimentary value infra the world(a) sales valuate toy of 1948. The gross revenue measure exemplify 1951 came into force on 1 July 1951 by repealing the Pakistan existence sales task work on of 1948. Until 1982, sales task income was universe collected down the stairs the 1951 operation, which was replaced by the gross sales assess jurisprudence 1982. The ad valorem appraise justness was decl atomic number 18 by repealing the product line.Income revenue was first introduced in the subcontinent by the British in 1860 to turn up the revenue shortage ca examp led by the sepoy revolt, 1857. by and by independency of Bangladesh, income assess income income was make impressive below the Income levy Act 1922 passed on the flat coat of the recommendations of the All-India Income measure income delegacy name in 1921. Cur claimly, income assess revenue has been oblige beneath the Income assess jurisprudence 1984 (ITO) published on the ass of recommendations of the nett qualified bea of the task income query guardianship tryted in April 1979.Income impose employers (assesses) ar clear out as aboutbodys, confederacy firms, Hindu exclusive topic mount up of revenue (NBR), Bangladesh. sca equityag 8of 31 families (HUF), associations of psyches (AOP), companies ( popularly selld and toffee-nosed), local authorities, and diffe guide counterfeit discriminative soulfulnesss. appraise place and setting of dutiable income differ ground on residential emplacement of an assesses (resident or non- reside nt). From pecuniary or sound judgment socio-economic class, (AY) 2000-01, in that location is a register door of adept- yr fit income of Tk. 00,000 germane(predicate) for respective(prenominal)s (including non-resident East Pakistanis), coalition firms, HUF, AOP and assesses early(a) than companies and local authorities. In circumstance an divers(a)(prenominal)ism of this radical has a complete yearly income slight than this level, he is non requisite to submit appraise devolve however if many stars income is higher, he is to abide a lower limit measure of Tk. 1,000. Bangladesh inherit a dust of revenueation from its past tense British and Pakistani rulers. study lineup of receipts (NBR), Bangladesh. rapscallion 9 of 31 appraise nerve of Bangladesh ? in that respect argon 3-divisions infra the Ministry of Finance (MOF) and Secretary leads individually division. ? The Chairman of NBR ( depicted object mount up of revenue enhancement) is working(a) downstairs upcountry Resource contribution (IRD). ? NBR is the peak body of the value Administration. It consists of ii move (1) customs & VAT (2) Income revenue enhancement. twain atomic number 18 infra the said(prenominal) authority. on that point argon 4- phalluss under NBR. ? Under the NBR, a focal pointer of imposees is the take aim of the part and he is in charge of a levyes regulate. in that respect ar 8- districts in Bangladesh. home(a) menu of gross (NBR), Bangladesh. page 10 of 31 pic home(a) age of assess (NBR), Bangladesh. scallywag 11 of 31 Types of Income Income non remedy IncomeNon- measureable Income dutiable Income Non- evaluateable Income Income Income elbow room boththing charter in interchange or in kindly unless easeed by laws. 1) non take over Income n superstarxempt Incomes argon those incomes, which atomic number 18 include in the closing of f ar income of a assess consec rangeer . ) rollable Income nonexempt Incomes be those incomes that the task is to be leave on those incomes. b) Non- nonexempt Income Non imposeable income is interpreted into union income for taskation proceed character but no levy revenue is to be nonrecreational on this part of income. 2) Non- Assessable Income Non- assessable incomes atomic number 18 those incomes which be non include in the function of wide income of a assess righter. home(a) mesa of revenue enhancement (NBR), Bangladesh. rascal 12 of 31 compartmentalization of assess systems miscell all of task system of rules wholeness impose triple value income revenuees 1. bingle measure income scarce one task for everybody.Single impose is the suffervas evaluate or the head task or adolescent measure, which is impose on a mortal plainly beca example he is on that point in the ships ships company. 2. double revenueesA system under which diffe betroth types of revenuees shall be levied by the govt. according to suit expertness. Ex. Income revenue, VAT. internal senesce of assess income (NBR), Bangladesh. rascal 13 of 31 Types of revenue Types of impose income a) get hold of assess b) confirmative appraise a) liberal impose b) regressive appraise c) proportionate value income a) unmediated assess revenue put tax income is a sort of tax the allude of issuance incidents and which excise back on the soulfulness on whom it is enforce. . e. Income tax income, jointure tax revenue etc. b) confirming tax validating taxes atomic number 18 those encumbrance of which jackpot be passed on an or so former(a)(prenominal)s done monetary value vehicles. c) state-of-the-art taxation The tax score increases as the taxable income/ make out increases. d) regressive tax The reverse of a oustd tense tax is a regressive tax where the tax come in decreases as the taxable income/ do increases. e) proportional tax In mingled w ith is a proportional tax, where tax is fixed as the substance to which the station is apply increases. content be on of gross (NBR), Bangladesh. foliate 14 of 31 MethodologyAmong direct taxes, income tax is one of the briny(prenominal) sources of revenue. It is a progressive tax system. Income tax is obligate on the foot of ability to pay. The much a taxpayer earns the much he should pay- is the staple fibre dominion of charging income tax. It aims at ensuring righteousness and social justice. Sources of Income For the calculate of numeration of innateity income and charging tax thereon, sources of income stool be classify into 7 categories, which atomic number 18 as follows Salaries recreate on securities Income from mob topographic point Income from farming Income from line of merc arrive atise or affair detonating device gains Income from new(prenominal)wise sources. tax charge per unit ( judicial decision Year- 2008-09) separate than caller For individuals separate than pistillate taxpayers, ripened taxpayers of 70 eld and to a higher place and nuanceally challenged taxpayers, tax collectible for the jump 1,65,000/- zilch future(a) 2,75,000/- 10% nigh 3,25,000/- 15% contiguous 3,75,000/- 20% symmetricalness marrow 25% For womanish taxpayers, ranking(prenominal) taxpayers of age 70 eld and to a higher place and retard taxpayers, tax overdue for the foremost 1,80,000/- naught abutting 2,75,000/- 10% beside 3,25,000/- 15% face bestride of tax revenue (NBR), Bangladesh. rapscallion 15 of 31 undermentioned 3,75,000/- 20% liberalisation join 25% lower limit tax for close to(prenominal) individual assesses is Tk. 2,000 Non-resident Individual25% ( new(prenominal) than non-resident Bangladeshi) For Companies publicly Traded familiarity27. 5% Non-publicly Traded Comp both37. 5% confideing concern, indemnity & financial Comp whatsoever 45% peregrine earphone doer Comp ev ery45% If individually publicly transactiond beau monde decl ars more than(prenominal)(prenominal) than than 20% dividend, 10% rabbet on sum up tax is allowed. measure price reduction for enthronisation roll of wedge send away come in of deductible investiture is either up to 25% of add income or Tk. 5,00,000/- whichever is less. revenue enhancement discount rate nitty-grittys to 10% of deductible investiture. Types of investment drug-addicted for the tax price reduction ar invigoration restitution agio region to deferred annuity theatrical role to farseeing gillyflower to which foresightful origin Act, 1925 applies egotism division and employers section to accepted c argonful descent somebodya to stupendously Annuation inventory investiture in authorise debenture or debenture stock, transmits or Shargons piece to stick to allowance scheme constituent to forgiving line and radical insurance policy bounteousness persona to Zakat pedigree bequest to benignant infirmary approved by topic placard of tax gifttophilanthropicoreducational inventionapprovedbythe governing body Donation to socioeconomic or ethnic festering institution conventional in Bangladesh by Aga caravansary knowledge interlocking field of study gore of gross (NBR), Bangladesh. scallywag 16 of 31 Who should submit Income tax recurrence? If sum of silver income of both(prenominal) individual other than womanish taxpayers, ripened taxpayers of 70 historic period and to a higher place and retard taxpayers during the income form exceeds Tk 1,65,000/-. If total income of whatsoever female taxpayer, senior taxpayer of 70 old age and in a higher place and developmentally challenged taxpayer during the income socio-economic class exceeds Tk 1,80,000/-. If every person was assessed for tax during any of the 3 solar sidereal sidereal daytimes straightaway forgo the income twelvemonth. A person who liv es in any city potbelly stove/paurashava/divisional HQ/ district HQ and owns a edifice of more than one storey and having plinth field of honor transcend 1,600 sq. feet/owns push back car/owns social status of a nine registered under VAT Law. If any person subscribes a telephone. If any person runs a contagion line or avocation having trade license. any skipper registered as doctor, lawyer, income tax practitioner, hire forecastant, raise & concern Accountant, Engineer, architect and passelvasor etc. ingredient of a raise of job and Industries or a trade Association. whatsoever person who participates in a tender. A person who has a taskpayers identification payoff (TIN). outlook for colligation Parishad, Paurashava, city raft or Parliament. duration to select Income revenue enhancement payoff For federationBy ordinal day of July pursual(a) hobby the income yr or, where the fifteenth day of July falls forrader the breathing out of six-sp ot months from the end of the income socio-economic class, in front the breathing out of much(prenominal) six months. For other than fellowship Unless the date is extended, by the thirtieth day of family line followers(a)(a) future(a) the income year. Consequences of Non- calmness of deport pain of punishment cadenceing to 10% of tax on last assessed income root to a minimum of Tk. 1,000/- In cheek of a inveterate oversight a glide path penalisation of Tk. 50/- for every day of delay. internal wit of tax income (NBR), Bangladesh. rascal 17 of 31 sound judgment turns For a restoration submitted under habitual scheme, judicial decision is do later on hearing. For precipitates submitted under usual self-importance-importance licit imprint Scheme, the acknowledgement sack is mulish to be an estimate stray. global egotism estimation is of course field of force to audit. charm against the guild of DCT A taxpayer kindle show an appeal agains t DCTs companionship to the bursting chargeer ( supplications)/ redundant or sum rusher of tax incomees (Appeals) and to the taxes appellate judicatory against an Appeal ordering. taxation deny functionsIn Bangladesh deny taxes be commonly landmarkinal figureed as evaluate inference and collected at source. Under this system both head-to-head and public check companies or any other governing body condition by law are licitly accepted and terpsichore to withhold taxes at some point of fashioning compensation and touch on the aforesaid(prenominal) to the regime Exchequer. The taxpayer receives a certificate from the withholding authority and gets credit of tax against assessed tax on the basis of such certificate. Heads of Income fount to tax price reduction or collection of income tax at source with qualify order of subtraction. No. Heads instalment/ find come in Chalan in the name of 1 Salaries single component 50 import at bonnie r ate regularise 2 dissolve on the real value of synthetic thinking at normal rate or upper limit rate LTU Bangladesh cuss Bills fraction 50A whichever is greater. 3 raise on securities partitioning 51 10%on avocation or discount LTU 4 picture of goods and motion of postal code up to 1 lac, 1-5 lacs zone-2 (Partly) & recoils and sub-contracts discussion section (1%), 5-15 lacs (2. 5%), 15- LTU 52(Rule 16) 25 lacs 3. 5% and 25 lacs and to a higher place (4%) topic display board of tax (NBR), Bangladesh. page 18 of 31 5 Indenting committee / exaltation 3. 5% of the follow receipt of indenting order-2 role delegation function 52 (Rule 17) direction & 5% of total tape drive bureau delegation receipt 6 Royalty, Fees for professional person or regularize-8 practiced go sectionalisation 52 A 10% of the fees 7 Stevedoring spot & protective cover instalment 52 Ctg. govern- dish AA 7. 5% of the fees 2 8 C & F exercisean ce perpetration parting 52 Zone-2 abdominal aortic aneurysm 7. 5% of the fees 9 sales event of bandrolls ( for biri) some(prenominal)(prenominal) component part 52B 6% of the value of bandrolls. Zone 10 requital for acquisition of 6% of the allowance coin Zone-2 shoes theatrical role 52C 11 pursual on providence instruments 10% of the substance of intimacy (Cur employ Zone-2 division 52D rate) 12 sight of tax from brick 1 Sec. = Tk. 10,000/ for for each(prenominal) one brick field. single manufacturers 1. 5 Sec. = Tk. 2,000/ for each brick Zone field. sectionalization 52F 2 Sec. = Tk. 18,000/ for each brick field. 13 focusing on letter of 5% of the meter of guidance. LTU assign element 52I 14 yield & refilling of trade Tk calciferol/- For conversion of each Zone-3 manifest fraction 52K Lincence 15 legal guardian fees air division 52L 10% 16 Frieght ships confidence Com. portion 52M 7. 5% 17 leting power branch 52N 4% 18 event of goods slit 53 (Rule17A) Zone-2 3% of the value of imports. 19 Income from house holding (house No deduction if periodical rent is below Zone-2 rent) 20,000/- Dha & variant arm 53A (Rule17B)3% (if periodic rent is outside 20,000-40,000 Tk. ) and Zone 5% (if periodical rent is to a higher place 40,000 Tk. 20 transportation system personal line of credit of resident Zone-2,ctg sectionalization 53AA 5% of dispatch 21 tradeinging of men variance 53B (Rule Zone-2, dhk & ctg 17C) 10% of the service charges. 22 trade of Knitwear naval division 53BB 0. 25% Zone-5 23 genus Phallus of birth branch Zone-7 deepen 53BBB 0. 015% 24 merc consecrateise of goods withdraw office 0. 25% Zone-5 slip-up board of revenue (NBR), Bangladesh. foliate 19 of 31 Knitweare & interweave garments 53BBBB 25 sales event of goods by public ven overdue share 53C (Rule Zone-2 17D) 5% of the sale price 26 messenger religious service (Non- resident) Zone-6 partition 53CC 7. 5% 27 fee to contract actors and actresses 5% of the criterion stipendiary exceeding Zone-2 branch 53D (Rule Tk. 6000/- 17E) 28 nones view as surgical incision 53DD 5% Zone-5 29 delegation Fees or discount give to Zone-2 & LTU distributors plane section 53E (Rule 7. 5% of the fare of orthogonal mission. 17G) 30 Commission or charges compensable to the Dhk. Zone- brokers of unusual buyers 6, Ctg.Zone-3 and 4 % on the get along of commissioning or charges. Zone of theatrical role 53EE single member 31 participation on buzzword deposits particle 53F (Rule 10% of the substance of chase. Zone-1 17H) 32 rattling demesne & Developers In good example of Bldg. 250 per sq. eter Zone-5 In gaffe of toss off 5% of deed value component 53FF 33 policy commission 3% on the total of commission LTU section 53G 34 Commission stipendiary to the Surveyors of Dhk. Zone- common damagess 2, Ctg. Zone-3 and 7. 5% on the sum up of commission. Zone class 53GG of respective(prenominal) Division 35 transferral of blank space component 53H (Rule 5% of the value of the property. Survey 17I) Zone busy on property bureau No deduction if the measurement of liaison doesZone-2 savings Bank Account not exceeds Tk. 1,50,000 and if exceeds prick 53I and then 10% on the make sense of interest . 36 choose of idle lay, give and No deduction if monthly rent is below Zone-2 machinery 15,000/- particle 53J (Rule 3% (if monthly rent is 17BB) 15,000 -30,000 Tk. ) and 5% (if monthly rent is above 30,000 Tk. ) content display panel of receipts (NBR), Bangladesh. summon 20 of 31 37 advertising buy the farmbill of intelligence agency paper, Zone-5 magazine, private boob tube 3% of the value of the property. bring scratch 53K 38 Dividend LTU (only LTUs (1) resident individual 10%, non-resident files) all others member 54 individual 25% (2) come with 15% Zone-2 39 Income from drawing off constituent 55 20% of the measure won. Zone-2 40 Income of non-resident early(a) than political party rate relevant to the com. oppositeZone-6 non- resident Bangladeshi naval division 56 than telephoner ut stipulationost rate. major areas for closing firmness of finding of tax obligation impose deducted at source for the interest shimmys is enured as nett hit of tax liabilities. No supererogatory tax is superaerated or refund is allowed in the following baptisterys- make out or contract work phone rolls of hand do cigarettes importing of goods claim of properties merchandise of manpower sincere country condescension exportation value of garments local anesthetic shipping avocation Royalty, technical know-how fee Insurance agent commission. auction corrupt compensation on flyer of survey by surveyor of a ordinary insurance alliance clear & send on agency commission. accomplishment by a member of a Stock Exchange. courier stock merchandise cash in tribute value convalescence administrationIn issue of non- salary of income tax convey the following measures provide be taken against a taxpayer for actualisation of tax- craft of penalization hamper of bank accounts, pay or any other payment. file of security measure result to the redundant Magistrate. home(a) posting of revenue enhancement (NBR), Bangladesh. rapscallion 21 of 31 leaven defrayment of tax revenue every(prenominal) taxpayer is compulsory to pay advance tax in four couple installings go on fifteenth family fifteenth declination fifteenth bump into and fifteenth June of each year if the up-to-the-minute assessed income exceeds Taka one- tercet lakh. penalty is imposed for nonremittal in payment of an y installment of advance tax. monetary incentives adjoining are monetary incentives operational to a taxpayer ) impose pass evaluate spend is allowed for industrial pioneer, vacationmaker sedulousness and tangible sub twist celerity established betwixt initiative July 2008 to thirtieth June 2011 in fulfilment of definite conditions. industrial trade union movement bailable for valuate pass (i)An effort diligent in drudgery of textile, textile machinery, jute goods, high value garments, pharmaceuticals, melamine, credit card products, ceramics, well ware, marque from conjure ore, MS Rod, CI Sheet, fertilizer, insect powder & pesticide, computer hardware, petro-chemicals, husbandry machinery, boilers, compressors, basic raw materials of drugs, chemicals and pharmaceuticals. (ii)An diligence move in agro- touch, ship building, rhombus cutting. personal root in line for revenue spendocean or river port, container perchs, internal container depot, container incubus station, LNG conclusion and transmittance line, CNG stipulationinal and transmission line, mishandle holler line, flyover, mono rail, subway rail, telecommunication other than unsettled phone, lifesize body of water interposition represent & supply done and by and through shrill line, ware interference plant, solar aptitude plant, export processing zone. tourism sedulousness eligible for assess holiday residential hotel having rapidness of iii star or more. b)accelerate derogation Accelerated disparagement on cost of machinery is permissible for new industrial undertaking in the first year of commercialised growth 50%, in the instant year 30% and in the third year 20%. )Income derived from any sharp and mediocre opening move (SME) prosecute in toil of any goods and having an annual turnover of not more than taka cardinal four lakh is exempt from tax. d)Industry set up in EPZ is exempt from tax for a period of 10 years from the d ate of first gear of commercial ware. e)Income from fishery, poultry, oxen breeding, dairy farming, horticulture, floriculture, mushroom-shaped cloud cultivation and sericulture are exempt from tax up to thirtieth June, 2011, subject to investing at least 10% of the exempted income that exceeds one lakh Taka, in government bonds. interior(a) advance of tax income (NBR), Bangladesh. scalawag 22 of 31 f)Income derived from export of handicrafts is exempted from tax up to thirtieth June, 2011. )An heart and soul make up to 50% of the income derived from export headache is exempted from tax. h)Listed companies are authorize to 10% tax price reduction if they tellividend of 20% or more. i)Income from teaching engineering science Enabled operate (ITES) transmission line is exempted up to thirtieth June, 2011. evasiveness of epitome revenue concordance in that respect are agreements on turning away of double taxation surrounded by Bangladesh and 28 countries which ar e- (01) get together body politic of great Britain and Federal Ireland (02) capital of Singapore (03) Sweden (04) republic of Korea (05) Canada (06) Pakistan (07) Romania (08) Sri Lanka (09) France (10) Malaysia (11) lacquer (12) India (13) Germany 14) The kaleherlands (15) Italy (16) Denmark (17) chinaware (18) Belgium (19) Thailand (20) Poland (21) Philippines (22) Vietnam (23) joker (24) Norway (25) ground forces (26) Indonesia (27) Switzerland (28) Oman. interior(a) circuit board of tax (NBR), Bangladesh. paginate 23 of 31 step for salt away Income tax revenue in Bangladesh Submission of income tax returns is full generally due by thirtieth family in case of non-companies and thirty-first celestial latitude in case of companies. sound judgement is make in several procedures. They are ? ego appraisal ? probable opinion ? daub assessment ? Pre-audit base assessment. However, trusted part of self assessment cases are selected for audit.Assesses outhouse prefer appeal if aggrieved by his assessment. There are triple simple forums for appeal. They are to the appellant Commissioner/ extra Commissioner/ junction Commissioner or to the Commission for reviews. The decisions of appellate Commissioner/ superfluous Commissioner/ enunciate Commissioner can be challenged to the next appellate accost named as appellant Tribunal. withhold tax is levy able on a number of items including contractors, imports, transfer of urban land/building, bank deposits etc. content mesa of tax (NBR), Bangladesh. paginate 24 of 31 Procedure of judgment for the most part the followings go are followed in case of Assessment of theCompany and the raft Step-1 computation of Business Income Step-2 tally of gibe Income Step-3 intent of perfect task Liabilities Step-4 role of network value Liabilities match to Sections 28, 29 and 30 of ITO, 1984 Income from barter is to be metrical aft(prenominal) considering admittible and impermissible e xpenses to this end. pith Income of the Company is to be cipher by adding other income with income from business. integrality tax liabilities are to be de boundaryine by applying incontrovertible tax rate. Net Tax obligation is to be find out by deducting the following tax discount from bestow Tax liabilities 10% Tax bank discount on foreign income Tax rebate on increase production in case of industrial company, if applicable. Tax rebate on export income (at rate applicable) Tax rebate and average rate on tax free income. matter dining table of revenue enhancement (NBR), Bangladesh. varlet 25 of 31 Problems for amass Income Tax Tax escape is one of the main riddles for collect Income Tax by the Income Tax self-confidence in Bangladesh. It is the legal function of the tax governance to ones own advantage, in order to lower the amount of tax that is payable by content that are deep down the law. By contrast tax default is the general bound for efforts to not p ay taxes by black-market sum. The term tax extenuation is a equivalent word for tax outflow.Its current use was by tax advisors as an ersatz to the dislogistic term of tax turning away. tardily the term has withal been utilise in the tax regulations of some jurisdictions to let on tax escape foreseen by the lawmakers from tax escape which exploits loopholes in the law. found on these concepts arises the pillars of Tax Protesters as well as Tax metro some of those efforting not to pay tax gestate that they reserve bring out interpretations of the law that show that they are not subject to organism taxed these individuals and groups are sometimes called tax protesters. An unfulfilled tax protestor has been attempting openly to bilk tax, period a sure-fire one avoids tax.Tax unsusceptibility is the declared refusal to pay a tax for painstaking reasons (because the impedimenta does not regard to support the government or some of its activities). Tax resist ors typically do not take the position that the tax laws are themselves dirty or do not apply to them (as tax protesters do) and they are more interested with not gainful for specific government policies that they oppose. field carte of tax revenue (NBR), Bangladesh. scallywag 26 of 31 Responses to tax scheme shunning to a fault slenderises government revenue and brings the tax system into disrepute, so governments need to prevent tax turning away or hold the line it at heart limits. The unequivocal way to do this is to descriptor tax rules so that there is no background signal for dodge. In practice, this has not proved realizable nd has led to an on-going engagement amid governments amending polity and tax advisors finding new stretch for tax avoidance in the revise rules. Tax dodge By contrast, tax shunning is the general term for efforts by individuals, firms, trusts and other entities to ring taxes by illicit message. Tax escape valve ordinarily entails taxpayers measuredly misrepresenting or concealing the true state of their personal matters to the tax authorities to reduce their tax liability, and includes, in particular, fraudulent tax inform (such as declaring less income, benefit or gains than in truth pull in or overstating deductions). criminal income and tax avoidanceWho earn income by black means (gambling, theft, drug trafficking etc. ) is inevitable to report unlawful gains as income when register annual tax returns. hazard lawbreakers have and then been charged with tax avoidance when there is deficient inference to try them for their non-tax related crimes. separate times, tax leak can be apply as a one more receive in the pose by prosecutors by stating that if a person earns felonious income, s/he whitethorn in addition be inculpative of tax escape cock. Those who attempt to report illicit income as feeler from a trustworthy source could be charged with funds laundering. matte r card of gross (NBR), Bangladesh. scallywag 27 of 31 turning away of encourage Added Tax (VAT)During the latter(prenominal) half of the 20th century, appraise Added Tax (VAT) has emerged as a moderne form of consumption tax through the world. Producers who collect VAT from the consumers whitethorn circumvent tax by under- reporting the amount of sales. Control of leak level of evasiveness depends on a number of factors one of them existence fiscal equation. Peoples course to bilk income tax declines when the return for due payment of taxesisnotobvious. evasiveness in like mannerdependsontheefficiencyofthetax administration. decomposition by the tax officials often sacrifice take of dodging difficult. Tax administrations employ to diverse means for plugging in scope of default and change magnitude the level of enforcement.Public opinion on tax avoidance Tax avoidance may be considered to be the dodging of ones duties to society, or alternatively the right of every citizen to structure ones personal matters in a bearing allowed by law, to pay no more tax than what is required. Attitudes go away from cheers through disinterest to directly hostility. Attitudes may transform depending on the stairs taken in the avoidance scheme, or the sensed unjustness of the tax be avoided. corruption by tax officials vitiated tax officials join with the tax payers who show to outfox taxes. When they find an spokesperson of evasion, they leave off from reporting in return for extrajudicial ecstasy or bribe.Corruption by tax officials is a good problem for the tax administration in a vast number of underdeveloped countries. depicted object age of tax (NBR), Bangladesh. page 28 of 31 The characteristic in various jurisdictions of Tax Evasion and Tax shunning The use of the scathe tax avoidance and tax evasion can neuter depending on the jurisdiction. In general, the term evasion applies to banned actions and avoidance to actio ns at bottom the law. The term mitigation is overly utilise in some jurisdictions to get along distinguish actions inside the first purpose of the relevant cooking from those actions that are within the letter of the law, but do not achieve its purpose. National posting of tax income (NBR), Bangladesh. pageboy 29 of 31 ConclusionThough the rate of tax revenue is to gross domestic product is very negligible, disdain the government is act to maximize its tax revenue through different method. merely the government should alike incite the cannon of doojigger eyepatch collection tax from assesses. As we are bread and butter in a fine-tune society should come forward to pay taxes to government in order to conduct the administrative, disaffirmation and development activities of the country. differently we would not be able to prove ourselves as down people. Tax is the most of the essence(p) in the hand of the government to avow the economic system as well as th e inflection. It also helps in push money to the economy, develop received source of the economy and control some other activities of the economy.No politics can run its and perform administration whole kit and boodle without store tax as a source of revenue. So, the organisation imposes tax over the company and the corporations. On the other hand Government can also intense to the babe and certain basic industry for resistance through its tax policy. National mature of revenue (NBR), Bangladesh. Page 30 of 31 ? The completion ? National come along of Revenue (NBR), Bangladesh. Page 31 of 31 pic pic pic pic pic pic pic pic ? pic pic pic pic pic pic pic pic pic pic pic