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The tax law imposes income tax at 25 percent on listed entities and 32.5 [2] percent for non-listed entities. Corporate tax rate changes announced this year include: an additional surcharge of 2.5 percent on income of companies in the tobacco sector
NBR is the authority for tax policies and tax laws in Bangladesh. [1] [2] NBR collects almost 97% of tax revenue and almost 85% of total revenue for the government of Bangladesh. [3] The Customs, Excise and VAT Appellate Tribunal is a tribunal under the National Board of Revenue established in 1995. [4] [5]
In his initial budget for the 1982-83 fiscal year, which totaled ৳4,738 crore, Muhith raised the tax-free income limit to ৳20,000 and introduced a dearness allowance for public servants. In the following fiscal year, he presented a larger budget of ৳5,896 crore , marking a notable increase.
The Income Tax Rules were promulgated by ordinance in 1984. [13] Value Added Tax was revised with the Value Added Tax (VAT) and Supplementary Duty (SD) Act 2012. [14] The Municipal Taxation Act 1881 governs municipal taxes. [15]
The directorate also asked the managing director of Raintree Hotel, Shah Mohammad Adnan Harun, to appear before it after it had found illegal alcohol and evidence of tax fraud following a raid at the hotel. [18] [19] [20] It seized the car of Moosa Bin Shamsher for dodging tax during import. [21] He was later summoned by the directorate. [22]
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Thus, as an example, income taxes collected would be divided by total income to yield a rate of taxation. Personal Income Tax Sales Tax Property Tax Corporate Tax total revenue total revenue total revenue total revenue. The averages of each tax base can be used in comparison to other states or communities, that is, the average of other states ...