Essay on Tax Approach to Bangladesh

Proceedings of the AABEA Biennial Meeting, October twelfth, 2002, Washington DC, UNITED STATES

Review of the Tax Program in Bangladesh A Prerequisite for Industrial Growth Big t. A. M. Nurul Basher*

E-mail: [email protected] com

Fuzy - This kind of paper continues to be written to focus on the eco friendly industrial development problems being faced by entrepreneurs in Bangladesh. You will discover multifarious problems for Industrial growth in Bangladesh however the major logjam is the negative tax system. There exists zero consideration intended for industrial recycleables import in that application of responsibilities and taxes compared to the ones from finished consumer goods. The net result is usually increase in development cost which makes the merchandise non-competitive. In order not to generate an extra burden on professional productions, the government needs to remove duties and taxes via imported unprocessed trash as in a large number of Middle East countries and Thailand. The us government implicitly welcomes the negative effects of the improper taxes in our commercial growth and has attempted partially to alleviate some of these road blocks by creating Export Processing Zones and Bonded Ware Houses; this kind of paper is exploring the benefits getting rid of these large import obligations altogether. Additionally, it looks at the paybacks for the economy coming from industrial progress. Finally, the expansion from the income tax umbrella is considered specifically its effects on developing a greater perception of nationwide civic obligation and its influence on the voting patterns in the electorate. [1]

to this, the regular per-capita cash flow of designed countries selection around or perhaps exceed US$ 26, 000 per year. While it is unspeakable to raise the income of the Bangladeshi to a level comparable to those of persons in produced nations, you need to make ongoing efforts to attaining a baseline level of lifestyle sustenance that could be termed as monetary solvency. Bangladesh covers an area of about 56, 000 sq miles the majority of part of which is agricultural land. Although it has attained selfsufficiency in food it continues to have vast areas where there are scopes for production of satisfactory food and also other agricultural items with export potential. Yet , whatever feasible expansion that makes in agriculture it is not necessarily possible to lower the unemployment to a moderately acceptable level. Hence, Bangladesh needs to explore other strategies of work creation.

I - LAUNCH

Bangladesh have been independent for approximately 54 years. It received independence first from the English Rule in 1947 and then again for the 2nd time in 1971 from the Pakistaner Military Junta. Since 1947 till particular date our population has increased from some 40 million to 130 mil. In the mean time they have faced many famines, surges and cyclones, not to mention some other losses. The economic situation features worsened daily. Political self-reliance failed to business lead this country towards the desired objective of monetary independence. Through these long years extending more than half a hundred years, Bangladesh provides definitely built some serious mistakes that have resulted in their fiscal failure. However this paper can be not can be a matter of criticism in the past failures, but rather an indicator is being offered here whereby Bangladesh will dsicover a way to participate its great population in productive job. Figure you shows that even ten years in the past, almost half the country a new population thickness of between 1500 to 2000 people per rectangular mile. With an annual expansion rate of around 2% and thus producing yet another 2 . six million persons per year, Bangladesh now has a population of around 130 million. The per-capita income is definitely somewhat like US$ 350 per year. As opposed

* Bengal Telecommunications and Electric Corp. Pvt. Limited. (BETELCO) nineteen Kakrail Highway, Dhaka - 1000, Bangladesh. В© 2002 BETELCO. Most Rights Set aside.

Figure 1: A 1991 population thickness map of Bangladesh

Actions of the AABEA Biennial Convention, October 12th, 2002, Washington DC, USA One way is to get a sizable portion...



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