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Acknowledgement

In performing our assignment, we had to take the help and guideline of


some respected persons, who deserve our greatest gratitude. The
completion of this assignment gives us much Pleasure. We would also
like to expand our deepest gratitude to all those who have directly and
indirectly guided us in writing this assignment.
In addition, a thank you to our senior lecturer Tahmina khanom who
introduced us to the methodology of work.
Many people, especially our classmates and team members itself, have
made valuable comment, suggestions on this proposal which gave us an
inspiration to improve our assignment. We thank all the people for their
help directly and indirectly to complete our assignment.

Page 02

Introduction: A tax is a financial charge or other levy imposed on an


individual or a legal entity by state or a functional equivalent of a state.
Tax is not a voluntary payment or donation but an enforced contribution,
exacted pursuant to legislative authority and is any contribution imposed
by government whether under the name of VAT, Custom, Excise, or other
name. Taxation means imposition of a non-penal yet compulsory levy for

transfer of resources from private to public sector. Imposed by the public


representative based on pre-determined criteria and without reference to
any specific commitment, in order to accomplish some nations economic
and social objective. These are dues that we pay for the privileges of
membership in an organized civil society.
Tax is imposed in the assessment year based on income year. Total taxes
in Bangladesh are divided into direct and indirect taxes. Direct taxes in
Bangladesh consist of taxes on income (income tax, corporation tax,
agriculture income tax) and taxes on property (wealth tax, gift tax, estate
duty, capital gain tax, urban property tax, house rent, land revenue,
registration and non judicial stamp).
Objective of the study:
*To find out how various types of tax impact on economy
*To analyze the affect of VAT on the economy of Bangladesh
*To identify how tax can contribute in economic development of
Bangladesh.
Source of the data:
Primary source: obviously Internet
Secondary source: we have tried to collect information from Book.

Major Categories of Tax:


In Bangladesh, the principal categories of taxes are:
1. Personal income taxes
2. Corporate income taxes.
3. Value-Added-Tax (VAT)
4. Customs Duty and supplementary Duty
1. PERSONAL INCOME TAXES
Income tax is one of the main sources of revenue. In Bangladesh Income
tax is imposed on the basis of ability to pay. The more a taxpayer earns
the more he should pay - is the basic principle of charging income tax. It
aims at ensuring equity and social justice. All individuals and companies
in the country need to pay income tax if their annual income excess
certain limit determined by the Government.

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