Tax System of Bangladesh & It's Role in Economic Development

Tax Definition A fee charged (levied) by a  governing body on a product, income, or activity. If appraise is levied  in a flash on own(prenominal) or corporate income, accordingly it is a direct tax. If tax is levied on the price of a favourable or service, then it is called an indirect tax. The purpose of taxation is to  pay  regime expenditure. wiz of the most important uses of taxes is to  pay  unexclusive goods and services, such as street lighting and street cleaning. Since  humans goods and services do not stop a non-payer to be excluded, or allow exclusion by a consumer, on that point cannot be a market in the good or service, and so they need to be provided by the governmentor a quasi-government agency, which tip to finance themselves largely through taxe. Review of the Tax corpse in Bangladesh a Prerequisite for industrial Growth Abstract - This temperament has been written to broad(prenominal)light the sustaina ble industrial growth problems organism fare about by the entrepreneurs in Bangladesh. There are miscellaneous problems for Industrial growth in Bangladesh but the major stymy is the unfavorable tax system. There exists no consideration for industrial birthday suit materials import in so far as application of duties and taxes compared to those of finished consumer goods.

The net result is increase in production cost which in turn makes the product noncompetitive. So as not to create an extra burden on industrial productions, the government needs to remove duties and taxes from imported vulgar materials as in many Mi ddle Eastern countries and Thailand. The! government implicitly accepts the adverse effects of the improper taxes on our industrial growth and has tried partially to alleviate some of these impediments by creating Export Processing Zones and Bonded Ware Houses; this paper explores the benefits doing away with these high up import duties altogether. It also looks at the paybacks to the economy from industrial growth. Finally, the detonation of the income tax umbrella...If you want to get a full essay, set it on our website: BestEssayCheap.com

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