GOVT. PC.

COLLEGE
BAGERHAT

Submitted By
Michel Mondol
Roll No: 9789310
Session: 2010-2011
Class Roll No:
Department of Accounting

Term Paper Of Michel Mondol 1

 Cource Title
A study on Tax collection from the people of Bangladesh.

Submitted to
Susil Kumar Sarker
Lecturer
Dept. of Accounting
Govt. P.C. College
Bagerhat

Submitted By
Michel Mondol
Roll No: 9789310
Session: 2010-2011
Class Roll No:
Department of Accounting

Date of Submission

Term Paper Of Michel Mondol 2

Date :
To
Susil Kumar Sarker
Lecturer
Dept. of Accounting
Govt. P.C. College
Bagerhat
Submission of Term paper on A study on Tax collection from the people of
Bangladesh.

Dear Sir,
It is a great pleasure for me to submit the term paper on A study on Tax collection from the
people of Bangladesh. Development: Bangladesh Perspective. For the partial fulfillment for
the degree Bachelor of Business Administration.

Although the preparation of the study wasnt an easy task for me, I enjoyed the challenge and
tried to face the problem with patience. The study gave me a real life experience and opens
my eyes to the actual business environment. It helped me in gathering various aspects of
knowledge and increased observation power regarding a business and its regular operation.
I have provided my best effort to prepare this report. I hope my term paper will meet your
expectation. However, if you need any clarification from any part of this report then please
let me know about it and I will try my best make that understandable.

Your truly,

Michel Mondol
B.B.A 2nd year
Roll No: 9789310
Session: 2010-2011
Class Roll No:
Department of Accounting

Term Paper Of Michel Mondol 3

 Students Declaration

Iam Michel Mondol a regular student of 2nd year Honors in Management. Would like to
declare here that this term paper, on A study on Tax collection from the people of
Bangladesh.. All problems and requirement has been authentically prepared by me. While
preparing this term paper, I did not breach any copy right act intentionally.
I am further declaration that I did not submit this paper anywhere for any purpose.

Michel Mondol
Roll No: 9789310
Reg No: 1700878
Session: 2010-2011
Class Roll No:
Department of Accounting
Govt. P.C. College, Bagerhat.

Term Paper Of Michel Mondol 4

 Supervisors Declaration

I hereby declare that the concerned term paper entitled A study on Tax collection from the
people of Bangladesh is an original work by Michel mondol. A regular student of 2nd year
Honors, Department of Accounting, Govt. P.C. College, Bagerhat under National University
has completed his works under my Supervision and submitted for the partial fulfillment of
the requirement of Degree of B.B.A Honors.

Sushil Kumar Sarker

Lecturar
Accounting Deaprtment
Govt. P.C. College, Bagerhat

Term Paper Of Michel Mondol 5

 Acknoledgement

The term paper titled as A study on Tax collection from the people of Bangladesh. has
been prepared to fulfill the requirements of B.B.A (Hons) Degree. I am very much fortunate
that I have received sincer guidance, Supervision and co-operation from various respected
people while preparing this term paper.
Many people helped me to prepare this report. First of all, I would like to thank my academic
supervisor of the internship programme- Sushil Kumar Sharker, Lecturer of Govt. P.C.
College, Bagerhat for giving me opportunity to prepare this term paper. He also provided me
important advices and guidance for preparing this term paper. Without his assistance, this
term paper would not be a comprehensive one. Secondly, I would like to thank Head of the
department Md. Rejaul karim Department of Accounting of Govt. P.C. College, Bagerhat,
where I received support of requirements of finishing the internship programe and daily
updates of college.
Finally, I would like to thank the authors of books that Ive taken help from, which had made
my understanding clearer during the making of this term paper.

Term Paper Of Michel Mondol 6

 Executive Summary
This paper has been prepared on performance appraisal & promotion practice of A study on
Tax collection from the people of Bangladesh.. One of the major sources of public
revenue to meet a countrys revenue and development expenditures with a view to
accomplishing some economic and social objectives, such as redistribution of income, price
stabilization and 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 tax has been derived from the French word taxe and
etymologically, the Latin word taxare is related to the term tax, which means to charge.
Tax is a contribution exacted by the state. It is a no penal but compulsory and unrequited
transfer of resources from the private to the public sector, levied on the basis of
predetermined criteria.

Term Paper Of Michel Mondol 7

 Index

No. Name Page

1 introduction 9
2 History of Tax at Bangladesh 9-10
3 Importance
4 Types of tax payers
5 Related laws and the rules and regulation of Income tax
6 Tax Incentives
7 Data Presentation & Analysis of Tax collection from the people of Bangladesh
8 Responsibilities and duties of the government
9 Responsibilities and duties of the citizens
10 Conclusion
11 Biography

Term Paper Of Michel Mondol 8

INTRODUCTION
The situation in Bangladesh is not like to encourage. Here condition is worst from peoples
side. Most of our citizens are puzzled on various taxes. They even do not know the purpose
and aspects of different taxes. So we have to know why we give tax, and investigate the
advantages or disadvantages of it. More specifically, maybe we are interested in income tax,
the most common area of tax. Therefore this paper is going to find out the income tax
situation in Bangladesh and disadvantages of avoiding it.

Citizens of our country are not aware of the rules and regulations of taxation, and they are
avoiding it without knowing that it has deleterious effect on the development of the country.
Though people usually do not confess, they avoid tax, even by giving bribe to government
officers. It is illegal and should be prevented.

Government has fixed a standard rate for tax payment. These laws have several revisions and
corrections accordingly. Beside these to prevent unethical practice of avoiding income tax,
government had made some essential punishable laws for this crime.

This study is based on a hypothesis and some research scope. Investing these areas this paper
tries to prove that hypothesis on the basis of some surveys and relevant information. On the
ongoing of this paper, it has been also found some possible solutions of taxation problem, and
some ideas to improve the situation. Therefore it maybe found useful for the tax payers as
well as the up coming new generation giving a sketch of current income tax condition in
Bangladesh.

History of tax at Bangladesh

Bangladesh inherited a system of taxation from its past British and Pakistani rulers. The
system, however, developed on the basis of 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. To develop
manpower for efficient tax administration, the government runs two training academies

Term Paper Of Michel Mondol 9

BCS (Tax) Academy at dhaka for direct tax training and Customs, Excise and Value Added
Tax Training Academy at chittagong for indirect tax training. The national board of revenue
(NBR) is the apex tax authority of Bangladesh and it collects around 93% of total taxes or
76% of total public revenues. The NBR portion of total taxes includes customs duty, value
added tax (VAT), supplementary duty (SD), excise duty, income tax, foreign travel tax,
electricity duty, wealth tax (collected as a surcharge of income tax since fiscal year 1999-
2000), turnover tax (TT), air ticket tax, advertisement tax, gift tax and miscellaneous
insignificant taxes. Other taxes (amounting to around 7% of total taxes or 5% of total
revenues) are often referred to as non-NBR portion of tax revenue. These 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).

Taxes are the major source of mobilizing internal resources of an economy.

Bangladesh revenue structure has been burdened by taxes from indirect sources for long time
and usually characterized by heavy import and excise duties. To cope with the challenge due
to globalization, government of many such countries has to cut down such duties and levies.
It seems that government might have to collect more money either through VAT (Value
Added Tax) or from direct taxes. In Bangladesh VAT introduced in 1991 by replacing the
sales taxes is still known as the vital reform in Bangladesh revenue structure. The remaining
potential sector is the income taxes sharing almost all taxes coming through direct sources. In
Bangladesh having a population of about 133 million, the number of registered taxpayers is
only 1.25 million2 (which is only 0.94 percent of the total population). Tax base is too
narrow and the tax law is full of exemptions and allowances. Agriculture sector provides
employment for around 60 percent of the population contributes only 25 percent of GDP and
virtually pays little in the form of income tax. There is always a controversy whether this

Term Paper Of Michel Mondol 10

sector is extra protected or not and if yes to continue for how long. There are many affluent
people lying in the category of agricultural income and more such people avoiding taxes
showing their entire income as a means of agriculture. It is widely known that very few
people even among the registered taxpayers pay any tax in the form of income taxes in
Bangladesh. Major share of income taxes come from the corporate sector and there is always
an uneasy feeling having its higher rates. It has been said that, about 100 foreign investors
pay 60 percent of the total revenue to the exchequer in Bangladesh. Taxes imposed are
usually in progressive rates and maximum collection is done at source under withholding tax
system. In Bangladesh, income tax for government employees is deemed paid by the
employer that is by the government, considering the fact that they are underpaid. However, in
case of private sectors, such payments are considered income, which creates additional tax
burden for the employee of the private firms. This is discriminatory and obviously
encourages employees of private firms to avoid or evade taxes. So, in reality very few people
share the burden of income taxes in Bangladesh and thus it is a real problem for the
government to distribute the tax incidence in a fair manner. Thus such a study is very
important for designing the tax structure of Bangladesh in the light of the overall objectives
of the development program of the country.

Importance
Every citizen has the right to have some facilities from the government of the country. But do
we think about the expenses of those facilities or where the expenses come from? It is the tax
that normal people pay to the government. Even the protection of the state and life of every
citizen is depended on this tax money. That is as much as properly tax is paid, the facilities
are respectively high.

From the economic view, we know that the government income (GDP) mainly comes from a
sum of domestic financing, foreign investment, net export, foreign grants and loans and tax
revenues. Then with these money and equipment or goods, government builds schools,
colleges, hospitals and so many basic important things for the sake of its citizens.

Term Paper Of Michel Mondol 11

In the budget for the 2006-07 fiscal years, government had estimated total tax revenue of
42,915,450 million taka (including both NBR and non NBR revenue) of total receipt of
76,558,618 million taka which is 61.6% of total receipt of the country. Out of this profit only
income tax will generate 8,500,000 million taka which is 11.1%.

From this total receipt both from domestic and foreign source government expend
accordingly. These fields includes social security & welfare, education & information
technology, energy & power, transport & communication, local govt. & rural development,
agriculture, health and many other sectors.

In Bangladesh, most of the people are usually ignorant about taxation and are unwilling to
give the money of their toil, especially in terms of income tax. So government can not give
them the facilities, even which are required for the basic need of human, because of its low
income. Moreover, the government is also unable to pay proper salary to its officers and
labors. This is why they take bribe to spend enough for their cost of living. With these bribe
facilities; people do another crime by deceiving the tax. Then to give away the essentials,
government has to increase the tax rate, and people become more deceitful. This is like a
circular course, which has no end.

Another most important reason of increased tax rate is to pay back the money, which
Bangladesh has borrowed from World Bank, IMF and other international monetary fund. If
people do not pay the tax properly, it is impossible to repay that money.

In the business sector, people have the most opportunity to avoid the tax. But again, for their
illegal attitude like this, government can not give them the facilities that they need in
business and to compete with other countries. The moral says that, income tax is the value
that a citizen gives in return of getting facilities, so income tax is not unnecessary burden for
any business.

Term Paper Of Michel Mondol 12

Types of Taxpayers in Bangladesh

Taxpayers in Bangladesh can be categorized into three main groups. Table 3 shows the
scenario in detail. The elite group consists of corporate taxpayers those are about 3.02 percent
of the total taxpayers. The next group consists of wage earners or salaried taxpayers and
shares about 18.81 percent. The largest and the last group consists taxpayers of remaining all
others and mainly those who have income from business and profession and shares about
78.17 percent.

Related laws and the rules and regulations of Income Tax

In order to find out the current situation of income tax some identified areas were studied in
this report. Each part is responsible for respective area analysis.

First Area:

Related laws and the rules and regulations of Income Tax

Except the amendments, the main income tax law in this country is the Income Tax
Ordinance, 1984 (xxxvi-1984). It was a statute law, which was set in the parliament. Beside
this, the Finance Act of each year is also applicable for anywhere it is needed for income tax
rule. The government publishes regularly the amendments, even for a very small change,
every year. If there is no change in any year, they republish the previous one. All these
published and declared notices are available in the department of Statistical Bureau, and open
for all.

The Income Tax Ordinance, 1984 divides the tax payers into two categories (i) Resident,
(ii) Non-Resident. Period of stay in the country is the chief determining factor for deciding
the status of an assessor; companies and firms, whether resident or non-resident, are assessed
on the basis of their location of head office during the period.

Term Paper Of Michel Mondol 13

Income (according to the law XI-1922[Sec.6]) for the purpose of levy of income tax on
computation of total income is classified under the following heads:

1. Salaries

2. Interest on Securities

3. Income from House Property

4. Agricultural Income

5. Income from Business or Profession

6. Income from other Sources

Income tax is charged for each fiscal year beginning on the first day of July each year at the
rate or rates prescribed in an Act of parliament.

SECOND AREA:
Current rate and range of income tax payment in Bangladesh

The laws of income tax are constantly on the anvil; different provisions and rates of tax,
penalty, interest etc. The rate of income tax for residents and non-residents are different. A
resident tax payer pays tax under normal rate while non-resident pays under different
category depending on the slab of income. This however may change time to time by the
finance Act.

Rates of Income Tax for the Assessment Year 2006-2007 according to the Finance Act, 2006

Tax Rate for Non-Resident (The Second Schedule of the Income Tax Ordinance, 1984):

Where a person, not being a company, is a non-resident in Bangladesh, except a Bangladeshi

non-resident, tax shall be payable by him or on his behalf on his total income at the
maximum rate of 25% of total income as prescribed in the Finance Act, 2006.

Term Paper Of Michel Mondol 14

Tax Rates in Respect of Capital Gains (The Second Schedule of the Income Tax Ordinance,
1984):

There has been brought a change in the tax rate of capital gains in the hands of a company. It
will be taxed as a block of income separate from other income of the assessor company at a
flat rate of 15% despite of the period of holding of its assets from the date of acquisition.

Third Area:

Negative approach of people in paying income tax

In poor country like Bangladesh, normal mentality of the people means avoiding the income
tax is beneficial of one self, because then they can consume more. Since Illiteracy is
relatively high in Bangladesh, people do not know the importance of income tax. Again there
is no simple book for our common people, which can simply explain the taxation and can
encourage them.

In a nut shell, various political and social reasons add to the tendency of tax evasion. Some of
these reasons are-

1. Lack of tax education

2. Traditional Psychology to evade taxes

3. Lack of socio-economic justice

4. Resistance of the vested interest

5. Lack of serious political commitment

6. Allowance of different kinds of tax exemptions without proper security and

study, and so on.

FOURTH AREA:

The effects of ignorance of taxes

The effects of ignorance of tax are vast and related to every sector of the development of
whole economy. Tax collection and economic growth are directly connected with each other,
and are independent. To fulfill the lack of Income Tax revenue govt has to give money from
its fund. Thats why for the last few years govt cant manage the whole process properly.

Term Paper Of Michel Mondol 15

Thats why Government needs money to pay different expenses, finance development
projects and reduce dependence on foreign aid. If development projects do not take off
properly, we will not generate resources from them, and we will be more and more reliant on
foreign grants. Therefore tax collection is such an important issue now-a-day and so
important is the education on taxation.

Tax Incentives

In accordance with Income Tax Ordinance, Income Tax Rules and various SRO issued from
time to time under the said ordinance/rules. Just mentioned tabulations shall articulate of
particulars of such incentives:-

a) Under part A of sixth schedule: (Income totally exempt from tax)

1. Income from house property held under a trust or other legal obligation wholly for
religious or charitable purpose (Para-1)

2. Any income derived from operation of micro credit by a NGO. (Para-2)

3. Income of religious or charitable institutions derived from voluntary contributions.

(Para-2)

4. Income of a local government. (Para-2)

5. Any special allowances, benefits, or perquisites granted to meet expenses incurred for
official duties. (Part-5)

6. Income received by trustees on behalf of a recognized provided fund, an approved

superannuation fund and an approved gratuity fund. (Para-6)

7. Remuneration of Ambassadors etc. of Embassies of foreign states and their non-

Bangladesh employees. (Para-7)

8. Any pension due to or received by an assesses. (Part-8)

Term Paper Of Michel Mondol 16

9. Interest on any securities of the Government received by an individual assesses up to
Tk. 5,000/-. (Para-12)

10. Interest on debentures approved by the Securities and Exchange Commission received
by an assesses not being a company up to Tk. 20,000/- (Interest on debentures together
with on securities shall not exceed Tk. 20,000/-). (Para-13)

11. Salary received by or due of any person who is neither a citizen of Bangladesh nor was
resident in Bangladesh in any of the four years immediately preceding the year in
which he arrived in Bangladesh for a period not exceeding three years from the date of
his arrival in Bangladesh, if such salary is received as a technician under a contract
of service to be approved by the Board. This exemption will continue for another five
years if the concerned technician continues to be employed by the same employer and
tax on the salary of such technician is payable by the employer. (Para 15 & 16)

12. Any income received by an assesses in respect of any share of income out of the capital
gains on which tax has been paid by the firm of which the assessed is a partner. (Para-

13. Any sum received by an assesses as a member of a Hindu undivided family where such
sum has been paid out of the income of the family. (Para-19)

14. Any income of an assesses representing payment as gratuity. (Para-20)

15. Any payment from provident fund to which PF Act. 1925 applies or from a recognized
provided fund, an approved superannuation fund or a workers profit participation
fund. (Para-21)

16. Any income from dividend for which dividend distribution tax is payable by the
company u/s 16D. (Para-22)

17. Any income from dividend of a mutual fund or a unit fund where such dividend does
not exceed Tk. 25,000/-. (Para-22A)

Term Paper Of Michel Mondol 17

18. Interest on securities receivable by an assesses on any security of the Govt. which is
issued with the condition that the interest thereon shall not be liable to tax. (Para-24)

19. Any sum representing interest credited on the accumulated balance of an employee in a
recognized provided fund. (Para-25)

20. Any amount received by a Govt. employee or an employee of autonomous or semi

autonomous body including their units or enterprise at the time of voluntary retirement
in accordance with any scheme approved by the Govt. in this behalf. (Para-26)

L/91 dt. 01.07.91).

Data Presentation & Analysis of Tax collection from the people of

Bangladesh

I collected data from people of two different target groups (Service holders and Business
people). 20 (Twenty) people are from the service holders and 20 from the business people
total (20+20) = 40 people. The survey findings are as follows at a glance in the table

Term Paper Of Michel Mondol 18

Question no.1 Educational qualification

a) H.S.C. or below

b) Under Graduate

c) Post Graduate

d) Masters or Higher

Analysis:

This above question was asked to find out the comparative educational qualification of
people from two target group.

From the survey it has been found that the most respondents are educated up to Post
Graduate (45% of the service holders are post graduate and 50% of the business people are
post graduate). For business group the educational standard is comparatively higher than
service people. May be in our country job standard is lower and people prefer business after
higher education.

Term Paper Of Michel Mondol 19

Question no. 2 Duration of occupation?

a) One year or less

b) Almost 5-10 years

c) Almost twenty years

d) More than twenty years

Analysis:

The graph shows the occupational duration of two different target groups respondents. For
service holders maximum duration is almost 5-10 years (55%), and business people this is
almost also 5-10 years (65%). Same way for both of the group the minimum duration of
experience is more than twenty years. For service holders it is 1% and for business people it
is also 1%.

Term Paper Of Michel Mondol 20

Question no. 3 What do you think about income tax?

a) Legal right of the government

b) Beneficial for the country

c) Needed for the sake of citizens

d) Extra burden for people

Analysis:

The above question was asked to figure out the general mentality of public about the
importance of income tax.

Most of the respondents from both of the groups replied that income tax is beneficial for the
country (45% service holders and 55% business people). But service holders mostly said it is
legal right of government and needed for the sake of citizen as well. In contrast business
people think it is important for development but in our country it is just a burden.

Term Paper Of Michel Mondol 21

Question no. 4 Tax payment

a) Yes, regular

b) Yes, but not regular

c) Sometimes I missed my payment

d) No, I dont

Analysis:

For this question maximum service holders agreed that they pay income tax sincerely (60%)
and quite regularly (25%) while the scenario is just opposite for the business people. Most of
the business people (45%) replied that they missed their payments or they simply dont pay at
all (30%).

Question no. 6 Showing exact figures in the audit

a) Yes, Sincerely

b) No, I only show my salary amount

Term Paper Of Michel Mondol 22

c) I manipulate the original amount

d) Yes, but not full amount

Analysis:

It has been found that most of the service holders (55%) show exact amount of income
during tax collection and only few (10%) manipulate the actual figure. The picture is just
opposite for the business people. They mostly show their income little bit lower (60%) and
manipulate the original amount (25%). Few of them (15%) sincerely give the proper figure to
the tax collectors.

Question no. 7 managing the authority

a) Offering and giving bribe to the concerned officer

b) With the help of my backing source

c) By other means

d) I dont want to explain

Term Paper Of Michel Mondol 23

Analysis:

It shows that most of the service holders said that they escape from tax by using backup
source (40%) or by other means (50%) which they dont want to disclose. But most of the
business people getaway of tax simply offering bribe (almost 45%) to the concerned officer.
Some other business men didnt want to reveal their way of deceiving income tax. Here it
has been found that people can easily escape from paying tax by giving bribe or by back up
sources in our country.

Question no. 8 Avoiding the income tax

a) Illegal and should be punished and prevented

b) Natural behavior of our country people

c) Not a serious crime

d) Not punishable because I cant afford it

Term Paper Of Michel Mondol 24

Analysis:

Here surprisingly found that both service holders and business people think avoiding income
tax is very common behavior of our citizen almost 65% of respondents of both groups).
Beside this most of the others do not pay tax because they cannot afford it for high cost of
living (30% of service holders and 35% of business people). But most amazing fact is that
not a single respondent consider it is a light topic, nobody consider it as not a serious crime.

Question no. 9 Fairness of the tax policy

a) Yes, it is manageable

b) Maybe it is quite expensive

c) No, it is too high for us

d) No comments

Term Paper Of Michel Mondol 25

Analysis:

Most of the service holders consider the present tax rate as too high for our people (65%).
Few others said it is quite expensive (10%) or they refuse to comment (25%). In contrast
most of the business people (50%) said it is manageable. Others said it is quite expensive
(30%).

May be our tax rate is not suitable according to the per capita income our country people. It
could be one major reason behind deceiving tax.

Question no. 10 Suggestion to the government

a) Should fix a standard rate of tax

b) Should make effective laws and punishment system

c) Should try to encourage people

d) Should try to decrease the rate of income tax

Term Paper Of Michel Mondol 26

Analysis:

For this question, both groups are coming out with common opinion (65%) of the responses;
that is both groups suggest the government to encourage general people. It is also clear in the
graph. Some other options like fix, consistent tax rate (30% by service holders and 25% by
business people) and decreasing tax rate are also appreciated.

This result implies that people are willing to pay tax if it is suitable with the par capita
income and actually implemented for the sake of the country.

Question no. 5

Question number 5 was to know how much income tax is paid by that respondent. As an
open ended question, everyone answered differently. But it seemed that business people
skipped the question by giving a vague answer like I give as required rate. Maybe because
they even dont know the tax amount that they have to pay.

Term Paper Of Michel Mondol 27

Suggestions

In this report a very important issue of this country has been discussed elaborately. Now it is
needed to find out what possible solutions of it can be shown. As this is a burning problem
which concerned the total population, no one alone can overcome the situation. There are
responsibilities of the government as well as the citizens.

Responsibilities and duties of the government

First of all, government has to spread the tax education which will aware the citizens
about the importance and its benefits. To do this, government should include some simple
idea about tax in the text books for college level students.

Government should give some incentives to encourage people to give income tax
accurately.

Government should clearly publish the explanation that what the government will do with
the income tax that is paid by the citizens.

To stop taking bribe, government should have strict monitoring system and should give
the officers a standard salary, by which they can maintain a standard living style.

Responsibilities and duties of the citizens

As a citizen of a poor and less developed country, we, the people who know about the tax,
should try to be honest in giving the tax properly. Moreover our duty is to aware and
encourage others to do this.

Conclusion

As a civilized citizen, we should not feel proud to know that we are not aware of any subject
that has a great contribution in the development of our country. But unfortunately, here we

Term Paper Of Michel Mondol 28

have countless people like me, who ask about the benefit of taxes though they have passed
many education levels successively. So I felt shame on us during the whole research.

But on the other hand I felt proud that, at least I was succeeded in pinpointing a problem that
has a great effect on progress of Bangladesh; and I have tried my best to show some of the
solutions. I hope that it is not a far future when everyone of our country will collectively try
hard for the progress of this motherland by giving the taxes properly. And my whole effort
will be worthwhile if I can raise some awareness.

Bibliography
1. Hussain, Mustafa Tariq. (1997). Direct Taxes in Bangladesh: Dhaka: Shafket Prokashoni.

2. Peoples Republic of Bangladesh. (1977). Income Tax Manual: Dhaka: GPO.

3. Metropolitan Chamber of Commerce and Industry. (2006). Summary of Taxation Rules in Bangladesh:
Dhaka: Tapan.

4. National Board of Revenue. (1997). Income Tax Manual: The Income Tax Ordinance: Dhaka.

5. Income Tax Incentives (2005, July 26). Home Page. Retrieved Nov 12, 2006 from http:// www.bizinfo-
bangladesh.com

6. Khan, Abu Sayed. (2005, May 5). Investment in Bangladesh. Nov 12, 2006, from http://
www.bangladeshinfo.com

Term Paper Of Michel Mondol 29