Taxation In Bangladesh Essay

4665 words - 19 pages

Term Paper on Taxation

A tax holiday is a temporary reduction or elimination of a tax. Governments usually create tax holidays as incentives for business investment. The taxes that are most commonly reduced by national and local governments are sales taxes. In developing countries, governments sometimes reduce or eliminate corporate taxes for the purpose of attracting Foreign Direct Investment or stimulating growth in selected industries.
Tax holiday is given in respect of particular activities, and sometimes also only in particular areas with a view to develop that area of business.
A government incentive program that offers a tax reduction or elimination to businesses. Tax holidays are ...view middle of the document...

For additional information on the history of taxation in the United States, see the Fact Sheet: Taxes prepared by the U. S. Treassury on the history of the U.S. tax system.

Tax Holiday
Tax holiday facilities will be available for 5 or 7 years depending on location of the industrial enterprise.

|Dhaka and Chittagong Divisions (excluding 3 hill tract districts of Chittagong Division) |5years |
|Khulna, Sylhet, Barisal and Rajshahi Divisions And 3 Chittagong hill tract districts |7years |

Tax holiday facilities will be provided in accordance with the existing laws. The period of tax holiday will be calculated from the month of commencement of commercial production. Tax holiday certificate will be issued by NBR for the total period within 90 days of submission of application. This facility can be availed of by industries set up within June 30, 2000 ADb.

History of Tax Holiday in Bangladesh
|1999 |Jun 30, 1999 - ASE Test Malaysia's tax holiday in Malaysia expired on June 30, 1999 and ASE Test Malaysia has received|
| |approval to be a "pioneer high technology" company in Malaysia, which entitles us to a five-year tax holiday |
| |substantially similar to our previous tax holiday. |
|2000 |Jun 30, 2000 - The eligibility of tax holiday is to be determined by the National Board of Revenue (NBR). Tax holiday |
| |facility can be availed of by industries set up within June 30, 2000. B. Accelerated Depreciation: Accelerated |
| |depreciation in lieu of tax holiday is ...The period of tax holiday is calculated from the month of commencement of |
| |commercial production or operation of the industrial undertaking. The eligibility of tax holiday is to be determined |
| |by the National Board of Revenue (NBR). Tax holiday facility can be availed of by industries set up within June 30, |
| |2000. B. Accelerated Depreciation: Accelerated depreciation in lieu of tax holiday is allowed at the rate of 80% of |
| |actual cost of machinery or plant for the year in ... |
|2001 |Aug 2, 2001 - That's part of the problem, said Char Miller, chairman of the history department at Trinity University. |
| |"The tax holiday only works if you spend money, at a time when we have an economy that is drifting south and |
| |Americans' savings rate is at its lowest in history," Miller said. ... |
| |From …...

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