Tax Structure & Policy Suggestions Bangladesh Case Enamul Hafiz Latifee

Monday, November 21, 2011 Tax Structure & Policy Suggestions: Bangladesh Case 1 Introduction The main revenue enhancement grossing or revenue collecting institution is generally cognize as National Board of Revenue (NBR). And as the exchange authority of evaluate policy and administration in Bangladesh, it plays a critical part in the development of the country. During the current fiscal year (FY 2010-11), NBR is expected to collect Taka 75,600 crore, providing much needed check to the governments development efforts. In recent years, Bangladeshs valuate collection has recorded an impressive growth averaging 20% per annum. Despite this good achievement, a lot remains to be done. Bangladeshs tax-GDP ratio at 9.3% remains quite natural depression when compared with other similarly placed countries in South Asia. slight than 1% of the population pays income tax and tax evasion is unflinching even though a significant amount of tax revenue is given up in the form of tax incentives. Together, curbing tax evasion and dealing with tax incentives could make up 5 percentage points to the tax-GDP ratio, potentially adding about 40,000 crore to the revenue collection. most of NBR s processes are manual and there is little in the nature of taxpayer service and taxpayer education.

The NBR also faces problems in its functioning due(p) to its current administrative structure. Despite being under the equivalent board, the different wings of the NBR (Income Tax, Value Added Tax (VAT) and Customs) operate about independently providing little support to each other in combating tax evasion and providing a unified front to taxpayers. Moreover, the NBR faces the problems of crisp shortage of trained manpower as well as physical infrastructure. These weaknesses of the NBR have not gone well with the tune community and individual taxpayers. And on other hand, the tax dodging of Bangladesh includes several tax revenue measures under the two all-encompassing headings of direct taxes and indirect taxes. The major policy objectives behind the... If you indigence to get a full essay, order it on our website: Orderessay

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