Tax System In Bangladesh

[pic][pic] The characteristic of Bangladesh Tax remains comprised of the following factors: (a) gross unwashed home(prenominal) product symmetry: A key office of monetary policy of the establishment is to strengthen the endeavor to mobilize domesticated resources to generate a bigger sh be of resources for investment. The strategy involves both revamping assess income income management and providing the remunerate incentives to stimulate domestic savings. Domestic resource mobilisation through the impose effort is not outstanding, but is a signifi peckt receipts over the past. The following table gives the proportion of levy taxation, non-tax tax r planeue and revenue to gross domestic product over the years [pic][pic] (d) Trend of Revenue Receipts: (e) control of confirmative Tax Over speak Tax: notwithstanding the work out for ensuring self-reliant development in a world(prenominal) climate of free economy, a major thrust of fiscal policy in Bangladesh has to be on raising the revenue-GDP ratio. Further, at that place is an urgent need for veer in the composition of revenues external from tax on international trade, goods and run towards direct taxes on income and profit, whose pct in total revenue in Bangladesh is appallingly low, even compared to early(a) developing countries in Asia It will be seen that major share of tax revenue is attributed to indirect taxes.

protrude of the indirect taxes, share of import- institutiond taxes was the highest. hedge of progress in expanding the base for direct taxes remains a major shortcoming of the tax reform agenda of Bangladesh. (f) bespeak of Tax-Revenue: The introduction of VAT in 1991 was a bold move. It at once covers manufacturing at the in large quantities and retail stage and several(prenominal) selected services. Efforts are on to convey VAT as comprehensive as possible. though VAT is immediately recognized as an efficacious and non-distorting representation of taxation by economists and policy makers alike, its introduction in numerous countries is held up cod to political reasons. Thus Bangladesh can blend under ones grate credit of introduction of VAT inwardly so short a period of time....If you want to get a full essay, toilsome out it on our website: Ordercustompaper.com

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