Tax Structure of Bangladesh

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  • Topic: Indirect tax, Taxation, Value added tax
  • Pages : 10 (1975 words )
  • Download(s) : 174
  • Published : October 29, 2012
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TAX STRUCTURE OF BANGLADESH
Below is a table of tax revenue collection of Bangladesh government for the financial year 2005-06 and budget estimate for the financial year of 2006-07. Description
Budget
(2006-07)
Budget
2005-06
(Revised)
Increase/
(Decrease) in
2006-07 over
2005-06 (Tk)
Increase /
(Decrease) in
2006-07 over
2005-06 (%)
Tax revenue:
National Board
of revenue(NBR
Portion)
Taxes on income
and profit
8500
6960
1540
22%
Value added
Tax(VAT)
14729
12398
2331
19%
Import duty
9485
8235
1250
15%
Excise duty
185
163
22
13%
Supplementary
Duty
7701
6394
1307
20%
Other taxes and
duty
455
306
149
49%
Sub total: NBR
portion
41055
34456
6599
19%
Non- NBR
1860
1719
141
8%

TAX STRUCTURE OF BANGLADESH

|A. Individual Tax: | |Individual Tax Structure | |Income Year 2005-2006 (Assessment Year 2006-2007) | |Income Slabs |Tax Rate | |On the first Tk 1,20,000 of total income |Nil | |On the next Tk 2,50,000 of total income |10% | |On the next Tk 3,00,000 of total income |15% | |On the next Tk 3,50,000 of total income |20% | |On the balance of total income |25% | |Non-Resident assesses |25% | |Minimum Individual Tax |Tk 1,800 | |Minimum Tax: Sponsor or shareholder director of a company |Tk. 3,600 | |Government Authority: National Board of Revenue |

 
|B. Corporate Tax: | |Corporate Tax | |Company |New Rate AY 2006-07 | |Publicly Traded Companies (other than Banks, Insurance & Financial Institutions): |- | |Normal Tax Rate (paying Dividend 10% or more) |30% | |Additional Tax if the declared dividend/bonus share is not declared or distributed at least |5% on undistributed profit | |15% within 6 months of the following income year | | |Companies declaring dividend less than 10% |40% | |Rebate @ 10% on applicable tax in case where dividend is more than 20% |10% | |Banks, Insurances and Financial Institutions: |- | |Corporate Tax |45% | |Excess Profit Tax (additional)-for banks only |15% (on excess...
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