Factors affecting Job Attainment

What You Should Know About Plate Tectonics

What You Should Know About Plate Tectonics Plate tectonics is the scientific theory that attempts to explain the movements of the Earths lithosphere that have formed the landscape features we see across the globe today. By definition, the word plate in geologic terms means a large slab of solid rock. Tectonics is a part of the Greek root for to build and together the terms define how the Earths surface is built up of moving plates. The theory of plate tectonics itself says that the Earths lithosphere is made up individual plates that are broken down into over a dozen large and small pieces of solid rock. These fragmented plates ride next to each other on top of the Earths more fluid lower mantle to create different types of plate boundaries that have shaped the Earths landscape over millions of years. History of Plate Tectonics Plate tectonics grew out of a theory that was first developed in the early 20th century by the meteorologist Alfred Wegener. In 1912, Wegener noticed that the coastlines of the east coast of South America and the west coast of Africa seemed to fit together like a jigsaw puzzle. Further examination of the globe revealed that all of the Earths continents fit together somehow and Wegener proposed an idea that all of the continents had at one time been connected in a single supercontinent called Pangaea. He believed that the continents gradually began to drift apart around 300 million years ago - this was his theory that became known as continental drift. The main problem with Wegeners initial theory was that he was unsure of how the continents moved apart from one another. Throughout his research to find a mechanism for continental drift, Wegener came across fossil evidence that gave support to his initial theory of Pangaea. In addition, he came up with ideas as to how continental drift worked in the building of the worlds mountain ranges. Wegener claimed that the leading edges of the Earths continents collided with each other as they moved causing the land to bunch up and form mountain ranges. He used India moving into the Asian continent to form the Himalayas as an example. Eventually, Wegener came up with an idea that cited the Earths rotation and its centrifugal force toward the equator as the mechanism for continental drift. He said that Pangaea started at the South Pole and the Earths rotation eventually caused it to break up, sending the continents toward the equator. This idea was rejected by the scientific community and his theory of continental drift was dismissed as well. In 1929, Arthur Holmes, a British geologist, introduced a theory of thermal convection to explain the movement of the Earths continents. He said that as a substance is heated its density decreases and it rises until it cools sufficiently to sink again. According to Holmes it was this heating and cooling cycle of the Earths mantle that caused the continents to move. This idea gained very little attention at the time. By the 1960s, Holmes idea began to gain more credibility as scientists increased their understanding of the ocean floor via mapping, discovered its mid-ocean ridges and learned more about its age. In 1961 and 1962, scientists proposed the process of seafloor spreading caused by mantle convection to explain the movement of the Earths continents and plate tectonics. Principles of Plate Tectonics Today Scientists today have a better understanding of the make-up of the tectonic plates, the driving forces of their movement, and the ways in which they interact with one another. A tectonic plate itself is defined as a rigid segment of the Earths lithosphere that moves separately from those surrounding it. There are three main driving forces for the movement of the Earths tectonic plates. They are mantle convection, gravity, and the Earths rotation. Mantle convection is the most widely studied method of tectonic plate movement and it is very similar to the theory developed by Holmes in 1929. There are large convection currents of molten material in the Earths upper mantle. As these currents transmit energy to the Earths asthenosphere (the fluid portion of the Earths lower mantle below the lithosphere) new lithospheric material is pushed up toward the Earths crust. Evidence of this is shown at mid-ocean ridges where younger land is pushed up through the ridge, causing the older land to move out and away from the ridge, thus moving the tectonic plates. Gravity is a secondary driving force for the movement of the Earths tectonic plates. At mid-ocean ridges, the elevation is higher than the surrounding ocean floor. As the convection currents within the Earth cause new lithospheric material to rise and spread away from the ridge, gravity causes the older material to sink toward the ocean floor and aid in the movement of the plates. The Earths rotation is the final mechanism for the movement of the Earths plates but it is minor in comparison to mantle convection and gravity. As the Earths tectonic plates move they interact in a number of different ways and they form different types of plate boundaries. Divergent boundaries are where the plates move away from each other and new crust is created. Mid-ocean ridges are an example of divergent boundaries. Convergent boundaries are where the plates collide with one another causing the subduction of one plate beneath the other. Transform boundaries are the final type of plate boundary and at these locations, no new crust is created and none is destroyed. Instead, the plates slide horizontally past one another. No matter the type of boundary though, the movement of the Earths tectonic plates is essential in the formation of the various landscape features we see across the globe today. How Many Tectonic Plates Are on Earth? There are seven major tectonic plates (North America, South America, Eurasia, Africa, Indo-Australian, Pacific, and Antarctica) as well as many smaller, microplates such as the Juan de Fuca plate near the United States state of Washington (map of plates). To learn more about plate tectonics, visit the USGS website This Dynamic Earth: The Story of Plate Tectonics.

Response Journal 2 (ethics) Essay Example | Topics and Well Written Essays - 250 words

Response Journal 2 (ethics) - Essay Example It appears that Mr. Hartherley, being passionate to his career, has been practicing his profession ethically. He had given appropriate advices to his clients. On the other hand he had been very keen about the purpose of the machine he is attending to, for he knows that ethically, he will be liable for all damages that the machine would give to the community and the environment as well. Thus, as stated in on the Code of Ethics for Engineers under Professional Obligations 1b: â€Å"Engineers shall advise their clients or employers when they believe a project will not be successful.† And on the Fundamental Canons nos. 1 and 6: â€Å"Hold paramount the safety, health, and welfare of the public† and Conduct themselves honorably, responsibly, ethically, and â€Å"Conduct themselves honorably, responsibly, ethically, and lawfully so as to enhance the honor, reputation, and usefulness of the profession† respectively. References: Doyle, Arthur C.

Apple Company Essay Example | Topics and Well Written Essays - 1250 words

Apple Company - Essay Example These include emails, banners, the company site, and social sites such as face book. The online advertisement is an effective way because it enables the Apple Company to reach may people. Additionally, online advertisements have no geographical restrictions that businesses may encounter when using other mediums (Durkin & McGowan, 2001). The company also prefers this mode of advertisements because it is target oriented. In the internet, one can find may websites that serve particular groups of people. The websites serve individuals in particular age groups and occupations. Apple advertises its products on its website, technology sites and social sites. This has given it the chance to reach the consumers who are particularly interested in procuring its goods (Durkin & McGowan, 2001). Furthermore, the use of the internet as an advertisement media has reduced the firm’s expenses. This because compared to other mediums, this mode is cost effective. When advertising through the inte rnet, Apple only pays when its potential consumers visit its websites. Additionally, the media is very informative since consumers can get all the important information about the products. The other forms of advertisements only give brief information about the products because they are expensive. ... Researches show that people spend approximately five to six hours watching TV. Since many households have televisions, the Apple adverts can reach many individuals. In addition, the media uses sound, pictures and words, which capture the consumers emotionally especially through the soundtracks. In additional, the company can reach its target population through TVs like online adverts. It can reach certain audiences when watching their favorite programs (Business Editors/High, 2001). Newspapers Apple markets its products through newspapers and magazines. In America, almost all homes can access newspapers daily. In the new papers, there are sections targeted for all people. For instance, there, are sports, news, and classifieds sections. In order to reach certain groups of people, the apple company markets its products in specific newspaper sections. Therefore, the company has also increased its sales through the newspaper ads (Durkin & McGowan, 2001). Magazine The publishers produce m agazines for young and the older persons in the society. Apple also uses magazines to market their goods. Magazines are also effective advertisement modes because the company reaches people of all ages. Additionally, magazines give the company more power when creating layouts to market its goods. Moreover, they have longer shelf life because people always keep their favorite magazines and they can read them many times. Therefore, they can read the adverts many times and influence their friends (Yuan, 2006). How essential marketing is in our life Enhancing product awareness Marketing is a vital aspect in businesses since it contributes to the high performance of organizations. The business products and distributions largely depend on marketing. Marketing enhances the public

Consider The Use of Force by William Carlos Williams to prove and Essay

Consider The Use of Force by William Carlos Williams to prove and interrogate Laura Mulvey's theory of the patriarchal gaze - Essay Example The more she fights against him, the more the doctor insists on the examination until it is an all-out war there in the kitchen. Although the doctor finally gets a successful examination, confirming his fears that the girl does have diptheria and has been keeping it hidden from her parents, he is left feeling very disturbed by the encounter. While it is possible to come up with some conclusions about this story without outside input, it is helpful to examine it in light of a theorist such as Laura Mulvey, who applied psychoanalytic theory to film studies in 1975 in her essay "Visual Pleasure and Narrative Cinema." Although she relates her ideas to film, Mulvey's concept that the one who looks has all the power is easily applicable to Williams' story. Within her article, Mulvey examines how pre-existing patterns of behavior and social formations has shaped conventions of story-telling and how that has in turn helped shape a patriarchal society. She makes the case that our ideas of mea ning are defined mostly by men who associate their masculinity with their ability to name, define, and control reality. "The paradox of phallocentrism in all its manifestations is that it depends on the image of the castrated woman to give order and meaning to its world. An idea of woman stands as lynch pin to the system: it is her lack that produces the phallus as a symbolic presence, it is her desire to make good the lack that the phallus signifies† (Mulvey 6). In other words, the patriarchic world view is founded on the idea that woman are missing a vital part of the human being, which automatically sets up the man as superior because he does have this part. Because she knows she is missing it, the theory holds, the woman is eager to do what she must to make it up by appropriately lending herself to others' vision of her. Mulvey indicates that Hollywood movies depend on this theme as a means of reaching out to the alienated individual and reinforce the patriarchal obsession s. These are difficult ideas to understand until they are applied to a real-world example, such as Williams' story. Reflecting the language of patriarchy It almost seems the story is written specifically to provide a lesson on the rules of patriarchy as the doctor emerges as the sole narrator. Only his thoughts and opinions matter, which is true both for the reader and for the little family within the home. Among his earliest comments concern his arrival at the home. "When I arrived I was met by the mother, a big startled looking woman, very clean and apologetic" (Williams). His comments are startling not just because they contain no pleasantries at the door in greeting, but because of the clear assessment he is making of the woman based entirely on this first impression of her. Describing her as â€Å"big† sets her up as existing outside of the traditional female ideal; she is not the ‘little’ woman in the home. Adding the description that she is â€Å"startled looking† begins to give the impression that perhaps she is not very bright and clearly not attractive. "In a world ordered by sexual imbalance, pleasure in looking has been split between active/male and passive/female. The determining male gaze projects its phantasy on to the female form which is styled accordingly. In their traditional exhibitionist role women are simultaneously looked at and displayed, with their appearance coded for strong visual and erotic impact so that they can

Shift from keynesianism to neoliberalism

Shift from keynesianism to neoliberalism How has the paradigmatic shift from Keynesianism to Neoliberalism impacted on modern society? The shift from Keynesianism to Neoliberalism represented a change from a social democratic mixed economy to a fundamentalist market-first approach. This essay will firstly outline what Neoliberalism means and some of its arguments in opposition to Keynesianism. It will then go on to show how privatisation has been ineffective in achieving Neoliberals intended aims. Thirdly it will examine the falsities of trickle down theory; and finally it will explain the negative effects of Neoliberal globalisation. I conclude that the overall impact of Neoliberalism has been negative. Neoliberalism as a philosophy is based around the principles of individualism, freedom of choice, market security, laissez faire, and minimal Government. These values provide a theoretical grounding for their challenge to Keynesian welfarism; which sought to achieve an extensive welfare state and full employment. Neoliberals claim that the free market, with minimal government interference, would provide the most efficient and socially optimal allocation of resources. They therefore advocate the privatisation and deregulation of public services as a way of removing inefficiencies through promoting competition. Cuts in public expenditure and taxation also minimise interferences in the market. For this reason they also seek to curb the powers of trade unions and hold down wages. They embrace the inequality these policies inevitably create; the theoretical justification being that higher incomes for the rich and higher profits will lead to more investment, indirectly creating jobs and im proving welfare for everyone this is known as a trickle down effect. These values of minimal interference translate on an international level to support for free trade in goods and services, free circulation of capital, and free investment; Neoliberals maintain that globalisation therefore is beneficial to everyone. Keynes on the other hand saw national-level expansion as the route to prosperity (Dumenil and Levy, 2005, p. 24; George, 1999, pp. N/A; Larner, 2000, pp. 5-25; Neale, 2008, p. 125; Robbins cited in Shah, 2009, pp. N/A; Tabb, 1999, pp. 138-143). Privatisation of public services has not increased efficiency as Neoliberals claimed it would, but has in fact done the opposite. This is because public services tend to be natural monopolies, when the minimum size to guarantee maximum economic efficiency [through economies of scale] is equal to the actual size of the market. This efficiency means the provision of the highest quality service at the lowest cost to the consumer. When such industries are privatised, they remain monopolies, only not ones controlled by accountable governments. The new owners therefore impose high prices on the public while cutting corners on the services provided (George, 1999, pp. N/A). This means also that there has been a massive transfer of wealth from public to private hands. In 1984 public companies contributed 7 billion pounds to the treasury, but now that money is going to the financial institutions and large investors that own the vast majority of the shares in privatised companies (George, 1999, pp. N/A). Neoliberalism has also been proven wrong in that the trickle down effect has failed to materialise. Thatchers break up of the trade unions, which meant workers had less power to bargain for higher wages, alongside her tax reforms, which involved massive tax cuts for the rich, had the desired effect of moving money up the economic ladder (George, 1999, pp. N/A). Yet this did not translate into improved general welfare and higher levels of employment as had been predicted, but in fact to the extension over time of slow growth and unemployment (Dumenil and Levy, 2005, p. 18). This resulted in the number of people living in poverty increasing dramatically, from one person in ten prior to her administration to one in four by the end of the Major years. Similarly in the USA, from the beginning to the end of Reagans terms in office, the income of the poorest ten percent of Americans decreased by 15% (George, 1999, pp. N/A). This can be explained by Keynes, who counters the idea that lowerin g wages leads to greater employment by encouraging employers to hire more workers. He contends that although lower wages for a few might have this effect, if this were generalised, it would reduce the purchasing power of the earners who are also customers, leading to a lower aggregate demand for goods and services, and thus a fall in the level of production and employment (Keynes cited in Tabb, 1999, p. 143). The transfer of wealth up the economic ladder via any means, to those who already have most of the things they need, does not result in increased local or national consumption and thus growth, but to speculation on international stock markets (George, 1999, pp. N/A). The freedom of investment and capital movement associated with Neoliberal globalisation, has been disastrous. It has systematically undermined democratic control over economic, as well as other issues. Governments in the modern globalised era rely on attracting Foreign Direct Investment for economic growth, and so in the name of international competitiveness they are forced to abandon their commitments to inclusive welfare systems and full employment, replacing them with an emphasis on economic efficiency. Governments must also abandon other barriers to profitability, which include democratically decided social and environmental regulations. The ever-present threat of capital relocation has led to a race to the bottom in wages and working standards among third world nations, as they desperately attempt to lure investment (Larner, 2000, pp. 5-25; Woodin and Lucas, 2004, pp. 9-48). In conclusion, this essay has exposed the theoretical underpinnings of Neoliberalism as false by highlighting its effects since its first implementation in the 1980s. The idea that the unfettered market would lead to improved social welfare through trickle down is clearly wrong, as the increased levels of poverty and unemployment clearly demonstrate. Also, the hope that privatisation would improve the efficiency of public services was misplaced, due to their position as natural monopolies. Furthermore, on an international level, Neoliberal policies have stifled democracy. The transition away from Keynesianism therefore has had negative effects overall on society. Dumenil, G. and Levy, D. (2005) Costs and Benefits of Neoliberalism: A Class Analysis In Epstein, G. A. (ed.) Financialization and the World Economy. Cheltenham: Edward Elgar Publishing. pp. 17-45 George, S. (1999), A Short History of Neoliberalism [online]. http://www.tni.org/es/node/66533 [Accessed 21/03/2010] Larner, W. (2000) Neo-liberalism: policy, ideology, governmentality. Studies in political economy, Vol. 63: 5-25 Neale, J. (2008) Stop Global Warming: Change the World. London: Bookmarks Publications. p. 125 Shah, A. (2009) A Primer on Neoliberalism. Global Issues [online]. http://www.globalissues.org/article/39/a-primer-on-neoliberalism [Accessed: 21/03/2010] Tabb, W. K. (1999) Restructuring Political Economy. London: Routledge. pp. 132-153 Woodin, M. and Lucas, C. (2004) Green Alternatives to Globalisation: A Manifesto. London: Pluto Press. pp. 3-63

Why Napleon Was a Success :: European Europe History

Why Napleon Was a Success Napoleon Bonaparte, was born on August 15, 1769 in Ajaccio, Corsica. He had 7 brothers and sisters. His original nationality was Corsican-Italian. He also despised the French. He thought they were oppressors of his native land. His father was a lawyer, and was also anti-French. One reason Napoleon may have been such a conqueror was he was raised in a family of radicals. In 1784 to 1785 Napoleon attended the Ecole Militaire in Paris. That was the place where he received his military training. He studied to be an artillery man and an officer. He finished his training and joined the French army when he was 16 years old. Soon after that his father died, Napoleon was stationed in Paris in 1792. After the French monarchy was overthrown on August 10, 1792, Napoleon decided to make his move up in the ranks. After this, Napoleon started becoming a recognized officer. In 1792 Napoleon was prompted to the rank of captain. In 1793 he was chosen to direct the artillery against the siege in Toulon. He seized ground where he could get his guns in range of the British ships. Soon after that Toulon fell and Napoleon was promoted to the rank of brigadier general. When Napoleon was made commander of the French army in Italy. He defeated four Austrian generals in succession, and each army he fought got bigger and bigger. This forced Austria and its allies to make peace with France. During this campaign the French realized how smart Napoleon was. He developed a tactic that worked very efficiently. He would cut the enemy's army in to two parts, then throw all his force on one side before the other side could rejoin them. This method was extremely effective against the Sardinian troops, because he defeated them five times in 11 days. When Napoleon returned to Paris he receive a huge welcome. He then began thinking of pursuing political power and military power. He wanted to become the next Alexander the Great, so he asked the Directory if he could take a large army to Egypt. That way he could conquer an empire that included Egypt, India, and other middle and far east places. Napoleon came up with a neat idea to accomplish this.

Comparative Politics: Uk and Us

At base, a congress and a parliament seem to be very similar things the legislative branches of the majority of the world's democracies which are filled with popularly elected men and women who come together to decide the legislative issues of their home nation. However, despite the initial impression of sameness, the two are very different in two key areas: how one is elected to the body and what one does once elected. The difference can begin to be seen in the origins of the words. Congress is based on an ancient Latin word meaning â€Å"a coming together,† which is precisely what happens in a congress representatives from all the parts of a nation coming together to discuss matters of state. Parliament, however, has its roots in a French word meaning â€Å"To talk,† and there certainly is a great deal of talking going on in any parliament. In fact, this simple linguistic difference leads one to the chief difference in the election process. A congress is based upon primary elections in which the general populace selects their candidates more based upon their personalities and individual plans for office, while in a parliament, the delegates are chosen to run by their own political parties based almost entirely on their willingness to follow party standards. While party certainly comes into play in any congress, the individual really does mean more in elections to that body. And it is that sense of individuality that leads to the second main difference between the two. In a parliamentary government, the Prime Minister and his cabinet (The leaders of the nation) are chosen from the majority party in the country's parliament. Thus, if the members of that party begin voting against their party's ideals in the body, the entire government can come apart, forcing an election of a new Prime Minister. With this in place, many parties very carefully restrict the freedoms of their delegates to ensure the safety of their Prime Ministers. In a congress, however, the executive branch is entirely separate from the legislative, allowing the members to vote freely based on the wishes of their constituents and own consciences, with no fear of doing permanent harm to government itself. Their increased individual power leads to many interesting phenomena, not the least of which being that they receive a much larger salary than parliamentary delegates individual congressmen are simply more important. And thus do the two differ from one another in many ways, making each a great deal more than a simple collection of delegates arguing about issues of state.

Tax(Case Report-on-Income-Tax-Authorities-in-Bangladesh) Essays

Tax(Case Report-on-Income-Tax-Authorities-in-Bangladesh) Essays Tax(Case Report-on-Income-Tax-Authorities-in-Bangladesh) Essay Tax(Case Report-on-Income-Tax-Authorities-in-Bangladesh) Essay ASSIGNMENT on Income Tax Authorities in Bangladesh [pic] National Board of Revenue – NBR Rajashwa Bhaban Segunbagicha, Dhaka Telephone: +88 02 933-3444. nbr-bd. org National Board of Revenue (NBR), Bangladesh. Page 2 of 31 Table of contents: |Serial |Topic |Page No. | |I |Cover |†¦Ã¢â‚¬ ¦. 01 | | |Page.. | | | |. | |II |Topic/Source of the ASSIGNMENT.. | 02| |III |Table of | 03| | |contents | | |01 |Letter of | 04| | |Transmittal.. | |02 |Acknowledgement †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ | 05| |03 |Background of | 06| | |NBR.. | | |04 |Taxation and its | 07| | |history | |05 |Tax Authorities of Bangladesh †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 | |06 |Types of Income †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 | |07 |Classification of Tax systems.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 | |08 |Types of |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦14 | | |Taxation.. | |09 |Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦15 | | |9. 01 Sources of Income†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦15 | | |9. 02 Tax Rate†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 | | |9. 03 Tax Rebate for investment †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 | | |9. 04 Who should sub mit Income Tax Return? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦17 | | |9. 05 Time to submit Income Tax Return †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦18 | | |9. 06 Assessment Procedure †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦19 | | |9. 07 Tax withholding functions †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦19 | | |9. 08 Major areas for final settlement of tax liability †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦22 | | |9. 09 Fiscal incentives †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦23 | | |9. 10 Avoidance of Double Taxation Agreement †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦24 | |10 |Steps for collecting Income Tax in Bangladesh.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦24 | |11 |Procedure of Assessment †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦25 | |12 |Problems for collecting Income Tax.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦26 | |13 |Conclusion.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦31 | | |.. | | National Board of Revenue (NBR), Bangladesh. Page 3 of 31 Letter of Transmittal March 03, 2012 To Md. Abdul Awal Chairman, EECS deparment NorthSouth University Basundhara Campus, Dhaka. Subject: Submission of Assignment on â€Å"Income Tax Authorities in Bangladesh†. Dear Sir I am pleased to submit this Assignment-report on â€Å"Income Tax Authorities in Bangladesh†. This research program was taken by the help of â€Å"Three tax system of Bangladesh†, written by M. A. Akkas, and â€Å"Income Tax† written by â€Å"Mr. Mahmud† and â€Å"Purohit Bhattacharjee†. Here is the report on the observational study of â€Å"Income Tax authority in Bangladesh†. We honestly believe that this report will fulfill the requirements of the case report, which will help us a lot to gain sufficient knowledge about the â€Å"Income Tax authority in Bangladesh† Sincerely, Deb kumar Roy ID:0910019040 National Board of Revenue (NBR), Bangladesh. Page 4 of 31 Acknowledgement I am very much grateful to the God first, who has given me all the ability to perform this chore. At last but not the least, I am grateful to my ever-respected parents those who always give us mental support and well wishes. National Board of Revenue (NBR), Bangladesh. Page 5 of 31 Background of NBR The National Board of Revenue (NBR) is the central authority for tax administration inBangladesh. ItwasestablishedbyPresidentsOrderNo. 76of1972. Administratively, it is under the Internal Resources Division (IRD) of the Ministry of Finance (MoF). MoF has 3 Divisions, headed by 3 permanent Secretaries to the Government, namely, the Finance Division the Internal Resources Division (IRD) and the Economic Relations Division (ERD). The Secretary, IRD is the ex-officio Chairman of NBR. NBR is responsible for formulation and continuous re-appraisal of tax-policies and tax-laws, negotiating tax treaties with foreign governments and participating in inter-ministerial deliberations on economic issues having a bearing on fiscal policies and tax administration. The main responsibility of NBR is to collect domestic revenue (primarily, Import Duties and Taxes, VAT and Income Tax) for the government. Other responsibilities include administration of all matters related to taxes, duties and other tax producing fees. Under the overall control of IRD, NBR administers the Excise, VAT, Customs and Income-Tax services consisting of 3434 officers of various grades and 10195 supporting staff positions (Approved set up as on 09 Feb. , 2000 AD). Negotiating tax treaties with foreign governments and participating in inter- ministerial deliberations on economic issues having a bearing on fiscal policies and tax administration are also NBRs responsibilities. The main responsibility of NBR is to mobilize domestic resources through collection of import duties and taxes, VAT and income tax for the government. Side by side with collection of taxes, facilitation of international trade through quick clearance of import and export cargoes has also emerged as a key role of NBR. Other responsibilities include administration of matters related to taxes, duties and other revenue related fees/charges and prevention of smuggling. Under the overall control of IRD, NBR administers the excise, VAT, customs and income-tax services consisting of 3434 officers of various grades and 10195 supporting staff positions. National Board of Revenue (NBR), Bangladesh. Page 6 of 31 Taxation and its history Taxation- one of the major sources of public revenue to meet a countrys revenue and development expenditures with a view to accomplishing some economic and socialobjectives,suchasredistributionofincome,pricestabilizationand discouraging harmful consumption. It supplements other sources of public finance such as issuance of currency notes and coins, charging for public goods and services and borrowings. The term â€Å"Tax† has been derived from the French word â€Å"Taxe† and etymologically, the Latin word â€Å"Taxare† is related to the term tax, which means to charge. Tax is a contribution exacted by the state. It is a non-penal but compulsory and unrequited transfer of resources from the private to the public sector, levied based on predetermined criteria. According to Article 152(1) of the Constitution of Bangladesh, taxation includes the imposition of any tax, rate, duty or impost, whether general, local or special, and tax shall be construed accordingly. Rate is a local tax imposed by local government on its residents or the property owners of the locality, a duty is a tax levied on a commodity, and an impost is a tax imposed for an entry into a country. Under the provision of article 83 of the Constitution, no tax shall be levied or collected except by or under the authority of an Act of Parliament. Bangladesh inherited a system of taxation from its past British and Pakistani rulers. The system, however, developed based on generally accepted canons and there had been efforts towards rationalizing the tax administration for optimizing revenue collection, reducing tax evasion and preventing revenue leakage through system loss. Taxes include narcotics duty (collected by the Department of Narcotics Control, Ministry of Home Affairs), land revenue (administered by the Ministry of Land and collected at local Tahsil offices numbered on average, one in every two Union Parishads), non-judicial stamp (collected under the Ministry of Finance), registration fee (collected by the Registration Directorate of the Ministry of Law, Justice and Parliamentary Affairs) and motor vehicle tax (collected under the Ministry of Communication). National Board of Revenue (NBR), Bangladesh. Page 7 of 31 The tax structure in the country consists of both direct (income tax, gift tax, land development tax, non-judicial stamp, registration, immovable property tax, etc) and indirect (customs duty, excise duty, motor vehicle tax, narcotics and liquor duty, VAT, SD, foreign travel tax, TT, electricity duty, advertisement tax, etc) taxes. The present land revenue system of Bangladesh has its base in the East Bengal state acquisition and tenancy act 1950 which established a direct contract between the taxpayer and the government. The most important tax on the value of transferred property is the non-judicial stamp tax (levied under the Stamp Act 1899), which has been in existence since January 1899. Current rates of non-judicial stamp duty are provided in the First Schedule of the Finance Act 1998, ranging from Tk. 4 to Tk. 10,000 in case of absolute rate, or from 0. 07% to 1. 5% of the value of consideration in case of ad valorem rate. The judicial stamp tax is being levied under the Court Fees Act 1870, although the levy of court fees originated in the introduction of the Bengal Regulation No. 8 of 1795. The first sales tax was introduced in the former Central Provinces of India in 1938. In Bengal, sales tax was adopted in 1941. In 1948, sales tax was transferred as a central tax under the General Sales Tax Act of 1948. The Sales Tax Act 1951 came into force on 1 July 1951 by repealing the Pakistan General Sales Tax Act of 1948. Until 1982, sales tax was being collected under the 1951 Act, which was replace d by the Sales Tax Ordinance 1982. The VAT law was promulgated by repealing the Business. Income tax was first introduced in the subcontinent by the British in 1860 to make up the revenue deficit caused by the sepoy revolt, 1857. After independence of Bangladesh, income tax was made effective under the Income Tax Act 1922 passed on the basis of the recommendations of the All-India Income Tax Committee appointed in 1921. Currently, income tax has been imposed under the Income Tax Ordinance 1984 (ITO) promulgated on the basis of recommendations of the Final Report of the Taxation Enquiry Commission submitted in April 1979. Income taxpayers (assesses) are classified as individuals, partnership firms, Hindu undivided National Board of Revenue (NBR), Bangladesh. Page 8of 31 families (HUF), associations of persons (AOP), companies (publicly traded and private), local authorities, and other artificial juridical persons. Tax rates and scope of taxable income differ based on residential status of an assesses (resident or non- resident). From fiscal or assessment year, (AY) 2000-01, there is a filing threshold of annual total income of Tk. 00,000 applicable for individuals (including non-resident Bangladeshis), partnership firms, HUF, AOP and assesses other than companies and local authorities. In case an identity of this group has a total annual income less than this level, he is not required to submit tax return but if someones income is higher, he is to pay a minimum tax of Tk. 1,000. Bangladesh inherited a system of taxation from its past British and Pakistani rulers. National Board of Revenue (NBR), Bangl adesh. Page 9 of 31 Tax Authorities of Bangladesh ? There are 3-divisions under the Ministry of Finance (MOF) and Secretary leads each division. ? |The Chairman of NBR (National Board of Revenue) is working |under Internal | | |Resource Division (IRD). | | | | | | | | | | |? |NBR is the apex body of the Tax Administration. | | It consists of two parts: (1) Customs VAT (2) Income Tax. Both are under the same authority. There are 4-members under NBR. ? Under the NBR, a Commissioner of Taxes is the head of the department and he is in charge of a taxes Zone. There are 8-Zones in Bangladesh. National Board of Revenue (NBR), Bangladesh. Page 10 of 31 [pic] National Board of Revenue (NBR), Bangladesh. Page 11 of 31 Types of Income Income Assessable IncomeNon-Assessable Income Taxable Income Non-taxable Income Income: Income means anything received in cash or in kind unless exempted by laws. 1) Assessable Income: Assessable Incomes are those incomes, which are included in the determination of total income of a taxpayer. ) Taxable Income: Taxable Incomes are those incomes that the tax is to be paid on those incomes. b) Non- Taxable Income: Non – taxable income is taken into total income for taxation rate purpose but no tax is to be paid on this part of income. 2) Non- Assessable Income: Non- assessable incomes are those incomes which are not included in the determination of total income of a taxpaye r. National Board of Revenue (NBR), Bangladesh. Page 12 of 31 Classification of Tax systems Classification of Tax System Single Tax Multiple Taxes 1. Single Tax: Only one tax for everybody. Single tax is the poll tax or the head tax or adolescent tax, which is imposed on a person simply because he is there in the society. 2. Multiple Taxes:A system under which different types of taxes shall be levied by the govt. according to suitability. Ex. Income Tax, VAT. National Board of Revenue (NBR), Bangladesh. Page 13 of 31 Types of Taxation Types of Taxation a) Direct Tax b) Indirect Tax a) Progressive Tax b) Regressive Tax c) Proportional Tax a) Direct Tax: Direct tax is a sort of tax the impact of effect incidents and which fall back on the person on whom it is imposed. . e. : Income Tax, Marriage Tax etc. b) Indirect Tax: Indirect taxes are those burden of which can be passed on others through price vehicles. c) Progressive Tax: The tax rate increases as the taxable income/amount increases. d) Regressive tax: The opposite of a progressive tax is a regressive tax where the tax rate decreases as the taxable income/amount increases. e) Proportional Tax: In between is a propor tional tax, where tax is fixed as the amount to which the rate is applied increases. National Board of Revenue (NBR), Bangladesh. Page 14 of 31 Methodology 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. It aims at ensuring equity and social justice. Sources of Income: For the purpose of computation of total income and charging tax thereon, sources of income can be classified into 7 categories, which are as follows: Salaries Interest on securities Income from house property Income from agriculture Income from business or profession Capital gains Income from other sources. Tax Rate (Assessment Year- 2008-09): Other than Company: For individuals other than female taxpayers, senior taxpayers of 70 years and above and retarded taxpayers, tax payable for the |First |1,65,000/- |Nil | |Next |2,75,000/- |10% | |Next |3,25,000/- |15% | |Next |3,75,000/- |20% | |Rest Amount | |25% | For female taxpayers, senior taxpayers of age 70 years and above and retarded taxpayers, tax payable for the |First |1,80,000/- |Nil | |Next |2,75,000/- |10% | |Next |3,25,000/- |15% | National Board of Revenue (NBR), Bangladesh. Page 15 of 31 |Next |3,75,000/- |20% | |Rest Amount | |25% | Minimum tax for any individual assesses is Tk. 2,000 Non-resident Individual25% (other than non-resident Bangladeshi) For Companies Publicly Traded Company27. 5% Non-publicly Traded Company37. 5% Bank, Insurance Financial Company 45% Mobile Phone Operator Company45% If any publicly traded company declares more than 20% dividend, 10% rebate on total tax is allowed. Tax Rebate for investment: Rate of Rebate: Amount of allowable investment is either up to 25% of total income or Tk. 5,00,000/- whichever is less. Tax rebate amounts to 10% of allowable investment. Types of investment qualified for the tax rebate are: Life insurance premium Contribution to deferred annuity Contribution to Provident Fund to which Provident Fund Act, 1925 applies Self contribution and employers contribution to Recognized Provident Fund Contribution to Super Annuation Fund Investment in approved debenture or debenture stock, Stocks or Shares Contribution to deposit pension scheme Contribution to Benevolent Fund and Group Insurance premium Contribution to Zakat Fund Donation to charitable hospital approved by National Board of Revenue Donationtophilanthropicoreducationalinstitutionapprovedbythe Government Donation to socioeconomic or cultural development institution established in Bangladesh by Aga Khan Development Network National Board of Revenue (NBR), Bangladesh. Page 16 of 31 Who should submit Income Tax Return? If total income of any individual other than female taxpayers, senior taxpayers of 70 years and abo ve and retarded taxpayers during the income year exceeds Tk 1,65,000/-. If total income of any female taxpayer, senior taxpayer of 70 years and above and retarded taxpayer during the income year exceeds Tk 1,80,000/-. If any person was assessed for tax during any of the 3 years immediately preceding the income year. A person who lives in any city corporation/paurashava/divisional HQ/district HQ and owns a building of more than one storey and having plinth area exceeding 1,600 sq. feet/owns motor car/owns membership of a club registered under VAT Law. If any person subscribes a telephone. If any person runs a business or profession having trade license. Any professional registered as doctor, lawyer, income tax practitioner, Chartered Accountant, Cost Management Accountant, Engineer, Architect and Surveyor etc. Member of a Chamber of Commerce and Industries or a trade Association. Any person who participates in a tender. A person who has a Taxpayers Identification Number (TIN). Candi date for Union Parishad, Paurashava, City Corporation or Parliament. Time to Submit Income Tax Return: For Company By fifteenth day of July next following the income year or, where the fifteenth day of July falls before the expiry of six months from the end of the income year, before the expiry of such six months. For Other than Company Unless the date is extended, by the Thirtieth day of September next following the income year. Consequences of Non-Submission of Return imposition of penalty amounting to 10% of tax on last assessed income subject to a minimum of Tk. 1,000/- In case of a continuing default a further penalty of Tk. 50/- for every day of delay. National Board of Revenue (NBR), Bangladesh. Page 17 of 31 Assessment Procedures: For a return submitted under normal scheme, assessment is made after hearing. For returns submitted under Universal Self Assessment Scheme, the acknowledgement slip is determined to be an assessment order. Universal Self Assessment is of course subject to audit. Appeal against the order of DCT: A taxpayer can file an appeal against DCTs order to the Commissioner (Appeals)/Additional or Joint Commissioner of Taxes (Appeals) and to the Taxes Appellate Tribunal against an Appeal order. Tax withholding functions: In Bangladesh withholding taxes are usually termed as Tax deduction and collected at source. Under this system both private and public limited companies or any other organization specified by law are legally authorized and bound to withhold taxes at some point of making payment and deposit the same to the Government Exchequer. The taxpayer receives a certificate from the withholding authority and gets credits of tax against assessed tax on the basis of such certificate. Heads of Income Subject to deduction or collection of income tax at source with specified rates of deduction. |No. Heads |Section/Rule |Rate |Chalan in the | | | | | |name of | |1 |Salaries | | |Respective | | | |Section 50 |deduction at average rate |Zone | |2 |Discount on the real value of | |deduction at normal rate or maximum rate |LTU | | |Bangladesh Bank Bills |Section 50A |whichever is greater. | |3 |Interest on securities |Section 51 |10%on interest or discount |LTU | |4 |Supply of goods and execution of | |ni l up to 1 lac, 1-5 lacs |Zone-2 (Partly) | | |contracts and sub-contracts |Section |(1%), 5-15 lacs (2. 5%), 15- |LTU | | | |52(Rule 16) |25 lacs 3. 5% and 25 lacs and above | | | | | |(4%) | | National Board of Revenue (NBR), Bangladesh. Page 18 of 31 |5 |Indenting commission / Shipping | |3. 5% of the total receipt of indenting |Zone-2 | | |agency commission |Section 52 (Rule 17) |commission 5% of total Shipping agency | | | | |commission receipt | | |6 |Royalty, Fees for professional or | | |Zone-8 | | |technical services |Section 52 A |10% of the fees | | |7 |Stevedoring agency Security |Section 52 | |Ctg. Zone- | | |service |AA |7. 5% of the fees |2 | |8 |C F agency commission |Section 52 | |Zone-2 | | | |AAA |7. 5% of the fees | | |9 |Sale of bandrolls ( for biri) | | |Respective | | | |Section 52B |6% of the value of bandrolls. Zone | |10 |Compensation for acquisition of | |6% of the compensation money |Zone-2 | | |property |Section 52C | | | |11 |Interest on saving instru ments | |10% of the amount of interest (Current |Zone-2 | | | |Section 52D |rate) | | |12 |Collection of tax from brick | |1 Sec. = Tk. 10,000/ for each brick field. |Respective | | |manufacturers | |1. 5 Sec. = Tk. 2,000/ for each brick |Zone | | | | |field. | | | | |Section 52F |2 Sec. = Tk. 18,000/ for each | | | | | |brick field. | | |13 |Commission on Letter of | |5% of the amount of commission. |LTU | | |Credits |Section 52I | | | |14 |Issuing Renewal of trade | Tk 500/- For renewal of each |Zone-3 | | |licence |Section 52K |Lincence | | |15 |Trustee fees |Section 52L |10% | | |16 |Frieght Forward agency | | | | | |Com. |Section 52M |7. 5% | | |17 |Rental power |Section 52N |4% | | |18 |Import of goods |Section 53 (Rule17A) | |Zone-2 | | | | |3% of the value of imports. | |19 |Income from house property (house | |No deduction if monthly rent is below |Zone-2 | | |rent) | |20,000/- |Dha Other | | | |Section 53A (Rule17B)|3% (if monthly rent is |outside | | | | |20,000-40,000 Tk. ) and |Zone | | | | |5% (if monthly rent is above | | | | | |40,000 Tk. | | |20 |Shipping business of resident | | |Zone-2,ctg | | | |Section 53AA |5% of freight | | |21 |Export of manpower |Section 53B (Rule | |Zone-2, dhk ctg| | | |17C) |10% of the service charges. | | |22 |Export of Knitwear |Section 53BB |0. 25% |Zone-5 | |23 |Member of Stock |Section | |Zone-7 | | |Exchange |53BBB |0. 015% | | |24 |Export of goods except |Section |0. 25% |Zone-5 | National Board of Revenue (NBR), Bangladesh. Page 19 of 31 |Knitweare Woven garments |53BBBB | | | |25 |Sale of goods by public auction |Section 53C (Rule | |Zone-2 | | | |17D) |5% of the sale price | | |26 |Courier Service (Non- resident) | | |Zone-6 | | | |Section 53CC |7. 5% | | |27 |Payment to film actors and actresses| |5% of the amount paid exceeding |Zone-2 | | | |Section 53D (Rule |Tk. 6000/- | | | | |17E) | | | |28 |Cash subsidy |Section 53DD |5% |Zone-5 | |29 |Commission Fees or discount paid to| | |Zone-2 LTU | | | distributors |Section 53E (Rule |7. 5% of the amount of commission. | | | | |17G) | | | |30 |Commission or charges paid to the | | |Dhk. Zone- | | |agents of foreign buyers | | |6, | | | | | |Ctg. Zone-3 and | | | | |4 % on the amount of commission or charges. |Zone of | | | |Section 53EE | |Respective | | | | | |Division | |31 |Interest on bank deposits |Section 53F (Rule |10% of the amount of interest. |Zone-1 | | | |17H) | | | |32 |Real Estate Developers | |In case of Bldg. 250 per sq. eter |Zone-5 | | | | |In case of land 5% of deed value | | | | |Section 53FF | | | |33 |Insurance commission | |3% on the amount of commission |LTU | | | |Section 53G | | | |34 |Commission paid to the Surveyors of | | |Dhk. Zone- | | |General Insurances | | |2, | | | | | |Ctg. Zone-3 and | | | | |7. 5% on the amount of commission. Zone | | | |Section 53GG | |of | | | | | |Respective | | | | | |Division | |35 |Transfer of property |Section 53H (Rule |5% of the value of the property. |Survey | | | |17I) | |Zone | | |Interest on Post Office | |No deduction if the amount of interest does|Zone-2 | | |Savings Bank Account | |not exceeds Tk. 1,50,000 and if exceeds | | | | |Section 53I |then 10% on the amount of interest . | | |36 |Rent of vacant land, plant and | No deduction if monthly rent is below |Zone-2 | | |machinery | |15,000/- | | | | |Section 53J (Rule |3% (if monthly rent is | | | | |17BB) |15,000 -30,000 Tk. ) and | | | | | |5% (if monthly rent is above | | | | | |30,000 Tk. ) | | National Board of Revenue (NBR), Bangladesh. Page 20 of 31 |37 |Advertising bill of news paper, | | |Zone-5 | | |magazine, private television | |3% of the value of the property. | | |channel |Section 53K | | | |38 |Dividend | | |LTU (only LTU’s | | | | |(1) Resident individual 10%, non-resident |files) all others| | | |Section 54 |individual 25% (2) Company 15% |Zone-2 | |39 |Income from lottery |Section 55 |20% of the amount won. |Zone-2 | |40 |Income of non-resident Other than | |Company rate applicable to the com. Other|Zone-6 | | |non- resident Bangladeshi} |Section 56 |than company maximum rate. | | Major areas for final settlement of tax liability: Tax deducted at source for the following cases is treated as final discharge of tax liabilities. No additional tax is charged or refund is allowed in the following cases:- Supply or contract work Band rolls of hand made cigarettes Import of goods Transfer of properties Export of manpower Real Estate Business Export value of garments Local shipping business Royalty, technical know-how fee Insurance agent commission. Auction purchase Payment on account of survey by surveyor of a general insurance company Clearing forwarding agency commission. Transaction by a member of a Stock Exchange. Courier business Export cash subsidy Tax Recovery System: In case of non-payment of income tax demand the following measures can be taken against a taxpayer for realization of tax:- Imposition of penalty Attachment of bank accounts, salary or any other payment. Filing of Certificate case to the Special Magistrate. National Board of Revenue (NBR), Bangladesh. Page 21 of 31 Advance Payment of Tax: Every taxpayer is required to pay advance tax in four equal installments falling on 15th September; 15th December; 15th March and 15th June of each year if the latest assessed income exceeds Taka three lakh. Penalty is imposed for default in payment of any installment of advance tax. Fiscal incentives : Following are fiscal incentives available to a taxpayer: )Tax holiday: Tax holiday is allowed for industrial undertaking, tourist industry and physical infrastructure facility established between 1st July 2008 to 30th June 2011 in fulfillment of certain conditions. Industrial Undertaking Eligible for Tax holiday: (i)An industry engaged in production of textile, textile machinery, jute goods, high value garments, pharmaceuticals, melamine, plastic products, ceramics, sanitary ware, steel from iron ore, MS Rod, CI Sheet, fertilizer, insecticide pesticide, computer hardware, petro-chemicals, agriculture machinery, boilers, compressors, basic raw materials of drugs, chemicals and pharmaceuticals. (ii)An industry engaged in agro-processing, ship building, diamond cutting. Physical Infrastructure Eligible for Tax holiday: Sea or river port, container terminals, internal container depot, container freight station, LNG terminal and transmission line, CNG terminal and transmission line, gas pipe line, flyover, mono rail, underground rail, telecommunication other than mobile phone, large water treatment plant supply through pipe line, waste treatment plant, solar energy plant, export processing zone. Tourism Industry Eligible for Tax holiday: Residential hotel having facility of three star or more. b)Accelerated depreciation: Accelerated depreciation on cost of machinery is admissible for new industrial undertaking in the first year of commercial production 50%, in the second year 30% and in the third year 20%. )Income derived from any Small and Medium Enterprise (SME) engaged in production of any goods and having an annual turnover of not more than taka twenty four lakh is exempt from tax. d)Industry set up in EPZ is exempt from tax for a period of 10 years from the date of commencement of commercial pr oduction. e)Income from fishery, poultry, cattle breeding, dairy farming, horticulture, floriculture, mushroom cultivation and sericulture are exempt from tax up to 30th June, 2011, subject to investing at least 10% of the exempted income that exceeds one lakh Taka, in government bonds. National Board of Revenue (NBR), Bangladesh. Page 22 of 31 f)Income derived from export of handicrafts is exempted from tax up to 30th June, 2011. )An amount equal to 50% of the income derived from export business is exempted from tax. h)Listed companies are entitled to 10% tax rebate if they declaredividend of 20% or more. i)Income from Information Technology Enabled Services (ITES) business is exempted up to 30th June, 2011. Avoidance of Double Taxation Agreement: There are agreements on avoidance of double taxation between Bangladesh and 28 countries which are:- (01) United Kingdom of Great Britain and Northern Ireland (02) Singapore (03) Sweden (04) Republic of Korea (05) Canada (06) Pakistan (07 ) Romania (08) Sri Lanka (09) France (10) Malaysia (11) Japan (12) India (13) Germany 14) The Netherlands (15) Italy (16) Denmark (17) China (18) Belgium (19) Thailand (20) Poland (21) Philippines (22) Vietnam (23) Turkey (24) Norway (25) USA (26) Indonesia (27) Switzerland (28) Oman. National Board of Revenue (NBR), Bangladesh. Page 23 of 31 Steps for collecting Income Tax in Bangladesh Submission of income tax returns is generally due by: > 30th September in case of non-companies and > 31st December in case of companies. Assessment is made in several procedures. They are: ? Self assessment ? Presumptive assessment ? Spot assessment ? Pre-audit based assessment. However, certain percent of self assessment cases are selected for audit. Assesses can prefer appeal if aggrieved by his assessment. There are three primary forums for appeal. They are to the Appellate Commissioner/Additional Commissioner/Joint Commissioner or to the Commission for reviews. The decisions of Appellate Commissioner/Additional Commissioner/Joint Commissioner can be challenged to the next Appellate Court named as Appellate Tribunal. Withholding tax is levy able on a number of items including contractors, imports, transfer of urban land/building, bank deposits etc. National Board of Revenue (NBR), Bangladesh. Page 24 of 31 Procedure of Assessment Generally the followings steps are followed in case of Assessment of the Company and the Corporation: Step-1 Computation of Business Income Step-2 Computation of Total Income Step-3 Determination of Total Tax Liabilities Step-4 Determination of Net Tax Liabilities According to Sections 28, 29 and 30 of ITO, 1984 Income from business is to be calculated after considering admissible and inadmissible expenses to this end. Total Income of the Company is to be calculated by adding other income with income from business. Total Tax liabilities are to be determining by applying prescribed tax rate. Net Tax liability is to be ascertained by deducting the following tax rebate from Total Tax liabilities: >10% Tax rebate on foreign income Tax rebate on increased production in case of industrial company, if applicable. >Tax rebate on export income (at rate applicable) >Tax rebate and average rate on tax free income. National Board of Revenue (NBR), Bangladesh. Page 25 of 31 Problems for collecting Income Tax Tax avoidance is one of the main problems for collecting Inc ome Tax by the Income Tax Authority in Bangladesh. It is the legal utilization of the tax regime to ones own advantage, in order to reduce the amount of tax that is payable by means that are within the law. By contrast tax evasion is the general term for efforts to not pay taxes by illegal means. The term tax mitigation is a synonym for tax avoidance. Its original use was by tax advisors as an alternative to the pejorative term of tax avoidance. Latterly the term has also been used in the tax regulations of some jurisdictions to distinguish tax avoidance foreseen by the lawmakers from tax avoidance which exploits loopholes in the law. Based on these concepts arises the pillars of Tax Protesters as well as Tax Resistance: Some of those attempting not to pay tax believe that they have uncovered interpretations of the law that show that they are not subject to being taxed: these individuals and groups are sometimes called tax protesters. An unsuccessful tax protestor has been attempting openly to evade tax, while a successful one avoids tax. Tax resistance is the declared refusal to pay a tax for conscientious reasons (because the resister does not want to support the government or some of its activities). Tax resistors typically do not take the position that the tax laws are themselves illegal or do not apply to them (as tax protesters do) and they are more concerned with not paying for particular government policies that they oppose. National Board of Revenue (NBR), Bangladesh. Page 26 of 31 Responses to tax avoidance: Avoidance also reduces government revenue and brings the tax system into disrepute, so governments need to prevent tax avoidance or keep it within limits. The obvious way to do this is to frame tax rules so that there is no scope for avoidance. In practice, this has not proved achievable nd has led to an ongoing battle between governments amending legislation and tax advisors finding new scope for tax avoidance in the amended rules. Tax evasion: By contrast, tax evasion is the general term for efforts by individuals, firms, trusts and other entities to evade taxes by illegal means. Tax evasion usually entails taxpayers deliberately misrepresenting or concealing the true state of their affairs to the tax authorities to reduce their tax liability, and includes, in particular, dishonest tax reporting (such as declaring less income, profits or gains than actually earned; or overstating deductions). Illegal income and tax evasion: Who earn income by illegal means (gambling, theft, drug trafficking etc. ) is required to report unlawful gains as income when filing annual tax returns. Suspected lawbreakers have therefore been charged with tax evasion when there is insufficient evidence to try them for their non-tax related crimes. Other times, tax evasion can be used as a one more nail in the coffin by prosecutors by stating that if a person earns illegal income, s/he may also be guilty of tax evasion. Those who attempt to report illegal income as coming from a legitimate source could be charged with money laundering. National Board of Revenue (NBR), Bangladesh. Page 27 of 31 Evasion of Value Added Tax (VAT): During the latter half of the twentieth century, Value Added Tax (VAT) has emerged as a modern form of consumption tax through the world. Producers who collect VAT from the consumers may evade tax by under-reporting the amount of sales. Control of evasion: Level of evasion depends on a number of factors one of them being fiscal equation. Peoples tendency to evade income tax declines when the return for due payment of taxesisnotobvious. Evasionalsodependsontheefficiencyofthetax administration. Corruption by the tax officials often render control of evasion difficult. Tax administrations resort to various means for plugging in scope of evasion and increasing the level of enforcement. Public opinion on tax avoidance: Tax avoidance may be considered to be the dodging of ones duties to society, or alternatively the right of every citizen to structure ones affairs in a manner allowed by law, to pay no more tax than what is required. Attitudes vary from approval through neutrality to outright hostility. Attitudes may vary depending on the steps taken in the avoidance scheme, or the perceived unfairness of the tax being avoided. Corruption by tax officials: Corrupt tax officials cooperate with the tax payers who intend to evade taxes. When they detect an instance of evasion, they refrain from reporting in return for illegal gratification or bribe. Corruption by tax officials is a serious problem for the tax administration in a huge number of underdeveloped countries. National Board of Revenue (NBR), Bangladesh. Page 28 of 31 The distinction in various jurisdictions of Tax Evasion and Tax Avoidance: The use of the terms tax avoidance and tax evasion can vary depending on the jurisdiction. In general, the term evasion applies to illegal actions and avoidance to actions within the law. The term mitigation is also used in some jurisdictions to further distinguish actions within the original purpose of the relevant provision from those actions that are within the letter of the law, but do not achieve its purpose. National Board of Revenue (NBR), Bangladesh. Page 29 of 31 Conclusion Though the rate of tax revenue is to GDP is very negligible, despite the government is trying to maximize its tax revenue through different method. But the government should also remind the cannon of convenience while collecting tax from assesses. As we are living in a civilized society should come forward to pay taxes to government in order to conduct the administrative, defense and development activities of the country. Otherwise we would not be able to prove ourselves as civilized people. Tax is the most important in the hand of the government to control the economy as well as the inflection. It also helps in push money to the economy, develop certain source of the economy and control some other activities of the economy. No Government can run it’s and perform administration works without collecting tax as a source of revenue. So, the Government imposes tax over the company and the corporations. On the other hand Government can also intensive to the infant and certain basic industry for protection through its tax policy. National Board of Revenue (NBR), Bangladesh. Page 30 of 31 ? The End ? National Board of Revenue (NBR), Bangladesh. Page 31 of 31 [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [? ] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic]

Ribbon of Faith Essay

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