Taxation

Taxation is defined as a fee charged by a government on a product, income, or activity. If tax is imposed directly on personal or corporate income, then it is a direct tax if it is imposed on the price of a good or service, then it is called an indirect tax. The purpose of taxation is to finance government expenditures.

In Bangladesh, tax revenue constitutes a major portion of the total internal resource. Tax revenue comprises of Income Tax, Customs Duty, Value Added Tax (VAT), Excise Duty, Supplementary Duty (SD), Infrastructure Development Surcharge (IDSC), and Travel Tax. The National Board of Revenue (NBR) under the Internal Resources Division of the Ministry of Finance is responsible for the collection of all these taxes. Major tax laws in Bangladesh are The Customs Act, 1969, The Income Tax Ordinance, 1984, The VAT Act, 1991, The Travel Tax Act, 2003, The Provisional Collection of Taxes Act, l931, The Amusements Tax Act, 1922, The Bangladesh Taxation Laws (Adaptation) Order, 1972 (President’s Order), The Business Profits Tax Act, 1947, The Excess Profits Tax Act, 1940, The Excise (Malt Liquors) Act, 1890,The Excise, Duty on Minerals (Labour Welfare) Act, 1967, The Excises and Salt Act, 1944, The Income-tax and Excess Profits Tax (Emergency) Ordinance, 1942, The Land Development Tax Ordinance, 1976, The Motor Vehicles Tax Act, 1932 etc.

Our firm has experts in Taxation Litigation especially in Corporate Taxation matters. The firm is consultant to a number of companies in Bangladesh for tax matters. Our Tax attorneys represent taxpayers in Tax Court and help them understand the complicated and confusing aspects of tax law. They represent taxpayers at all stages of tax controversies.