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. |
| |From ADVANCED SEMICONDUCTOR ENGINEERING INC (Form: 20-F, … - |
|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 ... |
| |From FOREIGN INVESTMENT IN BANGLADESH |
|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 …...

Other Papers Like Taxation in Bangladesh

Report

1182 words - 5 pages Accountants complete their training in practising firms and specialise in financial accounting, financial audit and tax. CMAs receive particular training in cost audit, management audit and management accounting, as well as general accounting and taxation. Both the ICMAB and ICAB are under the administrative control of the Ministry of Commerce. The Government of Bangladesh considers both type of professional accountants equal in respect of employment

Tax Evasion And Optimal Interest Rates. Switzerland: Study Center Gerzensee

4087 words - 17 pages Journal of Bangladesh Institute of Planners Vol. 2, December 2009, pp. 126-135, © Bangladesh Institute of Planners ISSN 2075-9363 Problems and Prospects of Municipal Holding Taxation System: A Study on Bhairab Pourashava Md. Samiul Huda* Muhammad Rashidul Hasan** Abstract Local governments in Bangladesh have several options at hand to finance their activities and pursue their fiscal policy. These options include the imposition of taxes

Term Paper

4018 words - 17 pages BANGLADESH FINANCE AND INVESTMENT COMPANY LIMITED Baitul Hossain Building (2nd Floor), 27, Dilkusha C/A, Dhaka‐1000 Balance Sheet As at 31 March 2011 Provisional & Un‐audited Note PROPERTY AND ASSETS Cash   Cash in hand   Balance with Bangladesh Bank Balance with other Banks and Financial Institutions   Inside Bangladesh   Outside Bangladesh Money at call and short notice Investment in Securities   Government    Others Lease, Loans and

Performance of Fiscal Policy of Bangladesh

2824 words - 12 pages Introduction Fiscal policy generally refers to the use of taxation and government expenditure to regulate the aggregate level of economic activity in a country. Fiscal policy in Bangladesh basically comprises activities, which the country carries out to obtain and use resources to provide services while ensuring optimum efficiency of the economic units. The policy influences the behavior of economic forces through public finance. Major

Market Analysis

3294 words - 14 pages INTRODUCTION For fulfilling the requirement of this project, we have decided to form a joint venture between a Bangladeshi leather company with an Indian company or a Chinese company. The name of the Bangladeshi leather company is Leatherex Footwear Industries Ltd, which will mainly provide leather and labor in this joint venture because labor cost is low in Bangladesh. The whole manufacturing process will take place in Bangladesh. On the

Business And Management

3465 words - 14 pages thoughts will no more reflect by imagined mirror, so we have to face the reality. Bachelor of Business Administration (BBA) is one of the most dynamic courses in this competitive world. Bangladesh is a promising one, but was still in the list of most poor countries. We are very much needed by qualified persons, new ideas, to utilize our resources and for development of entrepreneurship. For this why we need to convert our knowledge into practical

Copy&Paste

4358 words - 18 pages Objectives and scope of the report: The objectives of the report are: -To fulfill the requirement of the course curriculum. -To know about activities of insurance company in Bangladesh. -To know about the essentialities of insurance company in Bangladesh. -To find out some major problems of insurance in Bangladesh as follows -Social -Political -Economical

International Trade Payments with Special Respect to Bd

3421 words - 14 pages . Objective of the study: The objectives of the study are: 1. Discuss theoretical aspects of international trade payment and finance. 2. Discuss Bangladesh aspects of international trade payment and finance. Theoretical Aspects Payment methods: There are four standard and common payment methods that are in use to make or received payment for international trade market. It basically means received of payment against export and making payment

Foreign Direct Investment

4633 words - 19 pages countries, Bangladesh has also adopted a number of policies and provided generous incentives to attract foreign direct investment (FDI) into the country In According to experts, Bangladesh seems to offer perhaps the most liberal FDI regime in South Asia. These, among others, include: tax holiday for 5 to 7 years, income tax exemption for 15 years for the experts of foreign enterprises, protection from double taxation, exemption from duty for

Small Scale Industries of Bangladesh

5818 words - 24 pages . Abstract: There has emerged a greater interest in understanding firms’ access to external environment and the financing of small scale industries (SSIs) in particular. Various studies have indicated that one of the major obstacles for the formation and development of SSI is related with the SSI’s favorable business environment and low efficiency due to lack of entrepreneurship knowledge. Therefore, in Bangladesh, the SSIs face difficulties

Performance Evaluation

744 words - 3 pages 1st Batch of Business Graduate CENTER FOR BUSINESS STUDIES Faculty of Business Administration University of Chittagong (2013-2014)  Bangladesh gets biggest budget in history of 2.22 trillion taka with estimated expenditure at 18.7% of GDP for 2013-2014 fiscal year. Planning to fetch 1.41 trillion taka as tax revenue and 262.40 billion taka as non-tax revenue. The overall budget deficit was estimated at

Related Essays

Foreign Direct Investment Essay

5163 words - 21 pages sick politics. The bureaucrats and regulatory bodies are steeped in corruption. For business enterprise, corruption works as taxation or lubrication cost. Many companies regard bribery as just one of the costs of doing business (‘Lubrication Cost’) and show these payments as legitimate business expenses. However the current situation in this regard is as gloomy as it was in the past. 2. Insufficient Power Supply Bangladesh faces a system loss

Eskeyef Term Paper

4558 words - 19 pages marketing is the hallmark of their commitment to customers. Eskayef accomplishes marketing objectives through efficient and qualified cadres of Product Executives, Sales Executives and Market Research Executives. Eskayef Bangladesh Limited also has mission and vision to achieve success in the long run in the international market. 1 April 25, 2015 ESKAYEF BANGLADESH LIMITED 2. ESKAYEF BANGLADESH LIMITED Eskayef Bangladesh Limited is

Tax Avoidance And Tax Evasion In Bangladesh

5263 words - 22 pages “TAX EVASION & AVOIDANCE - A REAL PROBLEM FOR BANGLADESH” INTRODUCTION: Tax evasion and avoidance are both phenomena that are probably as old as taxation itself. Wherever and whenever authorities decide to levy taxes, individuals and firms try to avoid paying them. Though this problem has always been present, it becomes more pressing in the course of globalization as this process extends the range of opportunities to dodge taxation

About Rak Ceramics Essay

1556 words - 7 pages About Company RAK Ceramics (Bangladesh) Limited, a UAE-Bangladesh joint venture company, was incorporated in Bangladesh on 26 November, 1998 as a company limited by shares under the Companies Act 1994 and started its commercial production on 12 November, 2000. The Company engaged in manufacturing and marketing of ceramics tiles, bathroom sets and all types of sanitary ware. Within the short span of eight years RAK has firmly established