tax policy in bd in fiscal year 2015-16
TRANSCRIPT
Presented by SHEIKH ABIR AHMED
ID:16411028
RECENT TAX POLICIES OF BANGLADESH
Discussion PointsWhat is Tax?
TAX Policy: History
Types of Tax ; Difference
between Tax & VAT
Tax Sectors
Recent Tax Policies in
Bangladesh
Conclusion
TAX A sum of money demanded by a government for its support or for specific facilities or services, levied upon incomes, property, sales, etc.
A vital part of govt. earningGovt. use for the betterment of the people
TAX POLICY: HISTORY
•Ancient Egypt around 3000-2800 BC•Corvée & Tithe• In Bible also described about early Taxation•Persian Empire, Darius I, 500 BC• Its became vital part of govt. in 18th century•Bangladesh adopted after independence
Types of TAXDirect Tax
IncomeWealth
Gift
Indirect TaxCustom Duties
ExciseSales
Service
TAX SectorsSalaries
Interest on securities
Income from house property
Income from agriculture
Income from business or profession
Capital gains
Income from other sources.
Recent Tax Policies in Bangladesh
INCOME RATE
1st Tk.. 250,000 Nil
Next Tk. 400,000 10%
Next Tk. 500,000 15%
Next Tk. 6,00,000 20%
Next Tk. 30,00,000 25%
Amount over Tk. 47,50,000 30%
Any income of an individual being a non-resident foreigner 30%
Minimum Income tax payable by individual taxpayer:Dhaka & Chittagong City Corporation : Tk. 5,000Other City Corporation : Tk. 4,000Other areas : Tk. 3,000
Type of TaxpayersTax free Income Limit
Last Year This Year
Individual 220,000 250,000
Women and 65 above aged taxpayers 275,000 300,000
Retarded taxpayers 350,000 375,000
Liberation war wounded gazeted freedom fighters 400,000 425,000
Recent Tax Policies in Bangladesh
•SURCHARGE FOR INDIVIDUAL TAXPAYER BASED ON NET WEALTH:
•More than 2.25 crore but not more than 10 crore – 10%
•More than 10 crore but not more than 20 crore – 15%
•More than 20 crore but not more than 30 crore – 20%
•More than 30 crore – 25%
•Minimum surcharge payable is Tk. 3,000.
Recent Tax Policies in Bangladesh
Recent Tax Policies in Bangladesh
COMPANY 2014-15 2015-16
Publicly Traded Company 27.50% 25%
Publicly traded Co. declaring at least 30% dividend 24.75% 25%
Publicly traded Co. declaring less than 10% dividend 35% 25%
Non-publicly traded company 35% 35%
Bank, Insurance & Financial Institute:Listed & 4th Generation Banks and FIsNon-listed
42.50%42.50%
40.00%42.50%
Company Last Year
This Year
Merchant Bank 37.50% 37.50%
Cigarette: Non Publicly TradedPublicly Traded
45%40%
45%45%
Cellular Phone: Non Publicly TradedPublicly Traded
45%40%
45%40%
Minimum Tax payable on gross turnover 0.30%
0.30%(0.10% in first three years)
CORPORATE TAX RATE- 1 CORPORATE TAX RATE -2
Conclusion