Value Added Tax (VAT)
(i) VAT is imposed on goods and services at import stage, manufacturing, wholesale
and retails levels; (ii) A uniform VAT rate of 15 percent is applicable for both
goods and services;
(iii) 15 percent VAT is applicable for all business or industrial units with an
annual turnover of Taka 2 million and above;(iv) Turnover tax at the rate of 4 percent
is leviable where annual turnover is less than Taka 2 million; (v) VAT is applicable
to all domestic products and services with some exemptions; (vi) VAT is payable
at the time of supply of goods and services; ....
Customs
Customs wing is primarily responsible for collection of all duties and taxes at
the import stage. Apart from collection of government revenue it is also responsible
for trade facilitation, enforcement of government regulations, protection of society
and environmental protection,....
Customs collects 42% of the NBR’s total revenue. The revenue target for the year
2007-08 was Tk. 17,812 Cr. and actual revenue collection so far (July’ 07 to May’08)
is Tk. 16, 987.06 Cr. that is 19.04% higher than the previous year....
Income Tax
Among direct taxes, income tax is one of the main sources of revenue. It is a progressive
tax system. Income tax is imposed on the basis of ability to pay. The more a taxpayer
earns the more he should pay''- is the basic principle of charging income tax....
Income Tax Authorities are :- * National Board of Revenue, * Director-General
of Inspection (Tax), * Commissioner of Taxes (Appeals), * Commissioner
of Taxes, Large Taxpayers' Unit (LTU), * Director General (Training),
*....
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