Assignment on:Taxation in Bangladesh. Submitted to: Md. A. Salam Lecturer, School of Business, Asian University of Bangladesh Course: Taxation Course code: BBA Batch & Section: 39 F Semester: Fall-13 Submitted by: 1. Noor Hossain Limon201020249 2. Md. Moinul Islam Shaon201020179 3. Mithun Das201020186 4. Nasir Ahmed201020251 5. Anik Chandra das201020136 6. Mahmuda ahmed ela201120581 7. Syed Monirul Islam200920861 Date of submission – 29 August 2013
CONTENTS objective of the study About Tax Methodology of study Definition ofTax Classification of Tax Principles of Tax Merits and Demerits of Tax Canons of taxation Application of Canon in the Tax System of Bangladesh Conclusion Reference Objective of the study:
We can gain knowledge about the tax system of Bangladesh by studying this topic. As following aspects of tax we can learn from this study: 1. To get the idea about the collection of revenue, as context of Bangladesh. 2. How distribute theincome of people in Bangladesh is allocated. 3. How economic control toachieve theirmicroeconomic control. 4. Effect of the taxsystem of Bangladesh toeconomic development. 5. How national income is raised in desired level About Tax: Tax is a compulsory levy imposed by the Government. People pay taxes to the Government on the basis of what they earn, what they own and what they purchase. A tax is a compulsory payment levied on the persons or companies to meet the expenditure incurred on conferring common benefits upon the people of a country. Two aspects of taxes follow from this definition: A tax is a compulsory payment and no one can refuse to pay it. Proceed from taxes are used for common benefits or general purposes of the state. Methodology of the study: The study is based on secondary sources. The secondary sources which have been reviewed are: books, journals, reports, and data from various internet sources. I collect data by literature of various book and internet sources. Definition of Tax:
The term “taxation” comes from Latin word “taxatio”. It means to determine the payable quantum on estimate. Taxing authority determines tax to be payable by the assess. So tax is the revenue collected by the Government from persons and organizations under different taxing acts. According to, Justice Holmes, “the price paid to the Government for living in a civilized society is tax.” Taylor, “taxes are the compulsory payments to Government without expectation of direct benefit to the tax payer.” In other words, it is a liability imposed upon the assess who may be individuals, group of individuals and other legal entities. Classification of Tax: Tax can be classified into different types based on different angles, which are described below: (A)On the basis of impact and incidence: Direct Tax:direct tax is one whose incidence rests upon the person who bears its impact also, such as Income tax.
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