Master Class Taxation - 2

Principles & Practices of Taxation
MOHAMMED MOIN UDDIN REZA, ASSISTANT PROFESSOR, BUP
26/08/2020 MOHAMMED MOIN UDDIN REZA, ASSISTANT PROFESSOR, BUP 1

“Tax means the income-tax payable under this
Ordinance and includes any additional tax,
excess profit tax, penalty, interest, fee or other
charges leviable or payable under this
Ordinance”.
- Income Tax Ordinance, 1984
Tax Definition
“Compulsory monetary contribution to the
state’s revenue, assessed and imposed by a
Government on the activities, enjoyment,
expenditure, income, occupation, privilege,
property etc. of individuals and organizations”.
- Business Dictionary

Taxation is a main source of revenue
for the Government. In order to
accelerate economic development as
well as to ensure the defense,
administration, social welfare and
Objective of other development activities
Taxation government needs huge amount of
resources. It also reduces of
inequalities in income and wealth,
accelerates economic growth and
control of consumption and protects
local industries.

Types of Taxes:
Sources of Income to a Government
Tax
Government Donation
Loan

Types of Taxes:
Types of Taxes
Value Added
Tax (VAT)
Income Tax
Turnover Tax
Direct Tax Gift Tax Indirect Tax

Supplementary
Duty
Foreign
Travel Tax Customs Tax
Excise Duty

Income Tax at a glance
Among direct taxes, income tax is the main source of revenue. It is a
progressive tax system. Income tax is imposed based on 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. In Bangladesh income tax is being administered under the tax
legislations named as “THE INCOME TAX ORDINANCE, 1984 (XXXVI OF
1984) and INCOME TAX RULES, 1984.”

Classification of Tax – On the basis of rate
1. Proportional Tax:
The rates remains constant regardless the size of the income.
2. Progressive Tax:
The rate of taxation increases as the taxable income increases. It is considered more equitable.
3. Regressive Tax:
The rate of taxation decreases as the taxable income increases. Opposite to Progressive.
4. Degressive Tax:
Progressive to a certain limit after which the rate becomes flat. In Bangladesh, we follow this
Degressive Tax system.

Impact and Incidence of Tax
• Person from whom government collects

Impact money in first instance.
• Person who finally bears burden of a

Incidence tax.

Canons of Taxation
Canon of Canon of Canon of Canon of

Equity Certainty Economy Convenience

Individual Tax Rate in Bangladesh
Taxable Income Tax Rate
On First 3,00,000 0%
On Next 1,00,000 5%
On Next 3,00,000 10%
On Next 4,00,000 15%
On Next 5,00,000 20%
On Rest Amount 25%
If your income is 30,00,000 Taka, Calculate your Income tax.

Solution
Taxable Income Tax
On First 3,00,000 * 0% 0
On Next 1,00,000 * 5% 5,000
On Next 3,00,000 * 10% 30,000
On Next 4,00,000 * 15% 60,000
On Next 5,00,000 * 20% 1,00,000
On Rest 14,00,000 * 25% 3,50,000
Total Tax 5,45,000

Tax Free Limit - Individual
Tax-Payer Tax Free Limit
General People 3,00,000
Women and 65+ People 3,50,000
Disabled People 4,50,000
Freedom Fighters 4,75,000

Minimum Tax - Individual
Minimum
Area
Tax
Dhaka & Chattogram City
5,000
Corporation
Other City Corporation 4,000
Other Than City Corporation 3,000

Tax Rate - Companies
Nature of the Company Rates
1. Publicly Traded Company other than Banks, Insurance, Other financial institutions, 25%
Merchant bank, cigarette manufacturing companies and Mobile Operator companies.
2. Not Publicly Traded Company and other than Banks, Insurance, Other financial 32.5%
institutions, Merchant bank, cigarette manufacturing companies and Mobile Operator
companies.
3. For Bank, Insurance and Financial Institutions:

Publicly Traded 37.5%
Non-Publicly Traded 40%
4. For Merchant Banks 37.5%

Nature of the Company Rates
5. Cigarette, bidi and tobacco manufacturing companies 45%
6. Mobile Operator companies not publicly traded 45%
7. Mobile Operator companies publicly traded (Issue minimum 10% shares through stock 40%
exchanges, IPO placement cannot be more than 5%)
8. Non-Resident Foreigner 30%
9. Co-operative societies (Registered under Co-operative societies Act 2001) 15%

**If a Non-publicly traded company and Non-publicly traded mobile
operator company transfers at least 20% of its paid-up capital
through IPO, the company will get tax rebate @ 10% of the income
tax in the year of transfer.

Surcharge Rate
Net Asset Surcharge Rate Minimum Surcharge
1. Net Asset up to 3 crore 0% 0
2. Net Asset 3 Crore – 5 Crore or 10% 3,000

- More than one Motor Car (private car, jeep, micro) or
- House of more than 8000 sq. feet in any city corporation area
3. Net Asset 5 Crore – 10 Crore 15% 3,000
6. Net Asset more than 20 Crore – 50 Crore 30% 5,000
7. Net Asset more than 50 Crore, then

- 0.1% on Net Asset OR 30% on Tax Liability, Higher one

Calculate Tax Liability
Mrs. Tanzila has earned 30,00,000 taka during the

latest income year. She has shown 21 Crore BDT Net
Asset in the Balance Sheet. What will be her Tax
Liability?

Solution
Taxable Income Tax
On First 3,50,000 * 0% 0
On Next 1,00,000 * 5% 5,000
On Next 3,00,000 * 10% 30,000
On Next 4,00,000 * 15% 60,000
On Next 5,00,000 * 20% 1,00,000
On Rest 13,50,000 * 25% 3,37,500
Total Tax 5,32,500
Surcharge 30% on 5,32,500 1,59,750
Total Tax Liability 6,92,250

Calculate Tax Liability
Mrs. Tanzila has earned 3,00,000 taka during the

latest income year. She has shown 21 Crore BDT Net
Asset in the Balance Sheet. What will be her Tax
Liability?

Income Year
❑The period beginning with the date of setting up of a business and ending with the thirtieth
day of June following the date of setting up of such business;
❑The period beginning with the date on which a source of income newly comes into existence
and ending with the thirtieth day of June following the date on which such new source comes
into existence;
❑The period beginning with the first day of July and ending with the date of discontinuance of
the business or dissolution of the unincorporated body or liquidation of the company, as the
case may be;
❑The period beginning with the first day of July and ending with the date of retirement or
death of a participant of the unincorporated body;
❑The period immediately following the date of retirement, or death, of a participant of the
unincorporated body and ending with the date of retirement, or death, of another participant
or the thirtieth day of June following the date of the retirement, or death, as the case may be;
❑In the case of banks, insurance companies or financial institution the period of twelve months
commencing from the first day of January of the relevant year; or
❑In any other case the period of twelve months commencing from the first day of July of the
relevant year.

Assessment Year
Assessment year means the period of twelve months commencing on
the first day of July every year; and includes any such period which is
deemed, under the provisions of this ordinance, to be assessment year
in respect of any income for any period.
Computation of Tax Liability, Tax exemption and tax credit facilities are
computed on the basis of Assessment Year.

Accounting year ends on Income year Assessment year
30.06.2007
30.09.2007
31.12.2007 /
31.03.2008
31.07.2008
Find out the Income & Assessment Year

Solution
Accounting year ends on Income year Assessment year
30.06.2007 2006- 07 2007- 08
30.09.2007 2007- 08 2008- 09
31.12.2007 2007- 08 2008- 09
31.03.2008 2007- 08 2008- 09
31.07.2008 2008- 09 2009- 10

Find out the Assessment Year
Income year Assessment year
01.01.08 to 31.12.08
01.03.08 to 31.12.08
01.08.08 to 31.07.09

Solution
Income year Assessment year
01.01.08 to 31.12.08 2009 - 2010
01.03.08 to 31.12.08 2009 -2010
01.08.08 to 31.07.09 2010 - 2011

Assessee
Assessee means a person by whom any tax or other sum of money is payable under this
Ordinance, and includes -
a) every person in respect of whom any proceeding under this Ordinance has been taken for
the assessment of his income or the income of any other person in respect of which he is
assessable, or of the amount of refund due to him or to such other person;
b) every person who is required to file a return under section 75,section 89 or section 91;
c) every person who desires to be assessed and submits his return of income under this
Ordinance; and
d) every person who is deemed to be an Assessee, or an Assessee in default, under any
provision of this Ordinance;
Exemption : Local government are not taxable entity (Six schedule part A para 3).

Classification of Assessee - Person
"Person" includes-
✓an individual, a firm, an association of persons and
✓Hindu undivided family, Trust, a local authority, a company and
every other artificial juridical person;

Classification of Assessee- Residence
1. Resident 2. Non-Resident

Residential Status Determination
"Resident", in respect of any income year, means -
✓an individual who has been in Bangladesh –
i) for a period of, or for periods amounting in all to, 182 days or more in that year; or
ii) for a period of, or periods amounting in all to, 90 days or more in that year having
previously been in Bangladesh for a period of, or periods amounting in all to, 365 days or
more during four years preceding that year;
✓a Hindu undivided family, firm or other association of persons, the control and management of
whose affairs is situated wholly or partly in Bangladesh in that year; and
✓a Bangladeshi company or any other company the control and management of whose affairs is
situated wholly in Bangladesh in that year;

Effects of Residential Status
Non-
Particulars Status of Income Resident
Resident
Income Received, Accrued or

deemed to be accrued in Bangladeshi Income Taxable Taxable
Bangladesh
Income Accrued or arose Non-

Foreign Income Taxable
outside Bangladesh Taxable

Mr. Uzzal, an Indian citizen, stayed in Bangladesh
from 1st August, 2009 to 31st December, 2009 and
left for London. What will be his residential status in
the income year 2009-10?

Mr. Uzzal is a non-resident since his stay
in Bangladesh during income year 2009-10
is [31 +30+31 +30+31] = 153 days which is
less than required 182 days.

❑If total income of any individual other than female
taxpayers, senior male taxpayers of 65 years and above,
retarded taxpayers and war wounded gazetted freedom
fighter during the income year exceeds Tk 3,00,000/-.
❑If total income of any female taxpayer, senior male taxpayer
of 65 years and above during the income year exceeds Tk
Who should 3,50,000/-.
submit Income ❑If total income of any Physically handicapped taxpayers
Tax Return? during the income year exceeds TK. 4,50,000.
❑If total income of any gazetted war-wounded freedom
fighter taxpayer during the income year exceeds Tk.
4,75.000/-.
❑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 motor car/owns
membership of a club registered under VAT Law.
❑If any person runs a business or profession having trade license
and operates a bank account.
❑Any professional registered as a doctor, lawyer, income tax
practitioner, Chartered Accountant, Cost & Management
Who should submit Accountant, Engineer, Architect and Surveyor etc.
Income Tax Return ❑Member of a Chamber of Commerce and Industries or a trade
(Cont’d) Association.
❑Any person who participates in a tender.
❑Candidate for Paurashava, City Corporation, Upazilla or
Parliament elections.
❑Any company registered under the Company Act, 1913 or
1994.
❑Any Non-government organization (NGO) registered with NGO
Affairs Bureau
‘Tax Day’ Means-
1. For an Individual – The 30th Day of November

When to submit following the end of the income year.
assessment 2. For a Company – The 15th day of the seventh
month following the end of the income year
[or the 15th day of September following the end of
the income year where the said 15th day falls
before the 15th day of September]
Year end Tax Day Explanation
Company
th th th
31.12.2018 15 September 2019 15 day of 7 month falls before the 15 day of September
th th th
31.03.2019 15 October 2019 15 day of 7 month falls after the 15 day of September
th th th
30.06.2019 15 January 2020 15 day of 7 month falls after the 15 day of September
th th th
31.07.2019 15 February 2020 15 day of 7 month falls after the 15 day of September
th th th
th th th
th
Other Than Company (30 November following the income year. In every case Income year ends on 30 June for Other than
Company)
2017-18 30 November 2018 As Income Year ended on 30 June 2018 here.
2018-19 30 November 2019 As Income Year ended on 30 June 2019 here.
31.12.2019 30 November 2020 As Income Year ended on 30 June 2020 here.
When to submit assessment (Illustration)

When to submit assessment (Illustration)
Accounting Year Prevailing

Income Year Assessment Year Tax Day
End Rate
30 June 2019
Finance Act
(Other than Bank,
2019
insurance and 2018-19 2019-20 15 January 2020
(Rate of AY:
financial
2019-20)
Institutions)
31 December 2019 Finance Act
(Bank, insurance 15 September 2020
2019 2020-21
and financial 2020 (Rate of AY:
Institutions 2020-21)

Minimum Tax – Company [82(C)]
Classes of Assessee Rate of Minimum Tax
Manufacturer of Cigarette, bidi,
chewing tobacco, smokeless
1% of the gross receipts
tobacco or any other tobacco
products
Mobile phone operator 2% of the gross receipts
Any other cases 0.60% of the gross receipts

Problem – 82 (C)
X limited is a private limited company registered in
Bangladesh involved in manufacturing cigarette.
During the assessment year 2019-20, its total assessed
income is Taka 15,00,000 consisting net operating
income of Taka 12,50,000 Taka and interest income of
Taka 2,50,000. If sales revenue/turnover is Taka
2,00,00,000 and income tax rate is 35%, calculate
income tax liability.

Solution
Income tax @ regular rate: 15,00,000 * 35% = 5,25,000

Gross Receipts of the company: (2,00,00,000+2,50,000) = 2,02,50,000 Taka
Minimum Tax amount: (2,02,50,000*1%) = 2,02,500 Taka
Since regular tax is greater than the minimum tax, the tax liability will be 5,25,00
Taka.

Problem – 82 (C)
Y Ltd is a Private Limited Co. registered in Bangladesh involved in mobile
operating business. During the income year 2019-20, its-
Net Operating Income (loss) – (Taka 4,50,000)

Interest Income - Taka 2,50,000
Total Assessed income (loss) - (Taka 2,00,000)
Sales revenue was Taka 2,00,00,000. Income tax rate is 35%. Calculate income
tax liability.

Solution
Income Tax @ regular rate: zero since there is net loss

Gross Receipts of the company: (2,00,00,000+2,50,000) = 2,02,50,000 Taka
Minimum Tax amount: (2,02,50,000*0.60%) = 1,21,500 Taka
Since, Minimum tax is greater than regular tax, the tax liability will be 1,21,500
taka.

DO IT – 82 (C)
Y Ltd is a Public Limited Co. registered in Bangladesh involved in mobile operating business
(Not listed in the stock exchange). During the income year 2018-19, its-
◦ Net Operating Income (loss) – (Taka 4,50,000)

◦ Interest Income - Taka 2,50,000
◦ Total Assessed income (loss) - (Taka 2,00,000)
Sales revenue was Taka 2,00,00,000. Income tax rate is applicable as per law. Calculate income
tax liability.

DO IT – 82 (C)
X Limited is a Public Limited Company registered in Bangladesh
involved in manufacturing chips (Listed in the Stock Exchange).
During the assessment year 2018-19, its net operating income was
1,250,000 and interest income was 250,000. If sales revenue is
20,000,000 and income tax rate is applicable as per law, Calculate
income tax liability.

Tax Rebate on CSR Expenditure
In order to avail 10% tax rebate on CSR related expenditures, an organization has to fulfil the
following conditions.
- Maximum limit of CSR expenditure on which rebate will be allowed will be 20% of the total
income of the company or 12 crore whichever is lower.
- It should pay salary and wages to its employees regularly and if it is a manufacturing unit, it
must have waste treatment plant or ETP.
- The firm must pay the relevant taxes like income tax, VAT et. And loan instalment on a regular
basis.
- It can only contribute to government approved organizations.
- Must submit relevant documents to the DCT regarding the expenditure.
- Must comply with Bangladesh Labor Law 2006. - Payment must be paid through Bank.

Problem - CSR
X private limited company has presented the following information:
Total expenditure on CSR activities – Taka 1 crore

Net income as per audited income statement – Taka 10 crore
Corporate tax rate – 35%
Calculate the net tax liability.

Solution
Total income for assessment purpose: (10+1) = 11 crore
Gross tax liability on regular rate: 11 crore * 35% = 3.85 crore
Maximum limit of CSR expenditure on which rebate will be allowed@
- 20% of the total income (11 crore * 20%) =2.2 crore
- Or, 12 crore, whichever is lower.
Since company’s actual CSR expense is 1 crore which is less than 2.2 crore, it will get 10% rebate
on CSR expenditure of 1 crore.
Therefore 10% CSR rebate (1 crore * 10%) = 10 lac
Net tax liability: (Gross tax – 10% CSR rebate) = (3.85 crore – 0.1 crore) = 3.75 crore

DO IT – CSR
Halal Public limited company (Not listed with stock exchange), has presented the
following information:
Total expenditure on CSR activities – Taka 2.5 crore
Net income as per audited income statement – Taka 10 crore
Corporate tax rate – at applicable rate
Calculate the net tax liability.

Classification of Income
• Are not included in the

Non-Assessable computation of total income.
Income • Sixth Schedule, Part A
• Tax Free Income

Assessable • Tax Credit Income/Inv. Allowance
Income • Tax Payable Income

Tax Free Income
1. Included in the determination of total income.
2. Applied Tax rate applicable.
3. Tax Rebate on Average rate on such income.
Average Tax Rate (Total Tax / Total income)*100

Rebate on Tax Free Income Total Tax Free Income * Average Rate
Tax Free Income are:

1. Income from Partnership firm if tax has already been paid by the firm.
2. Income from Association of persons on which tax has already been paid by the association.

Tax Free Income
Total Taxable income is 5,00,000 Taka out of which tax-free income is 50,000 Taka.
Taxable Income Tax

On First 3,00,000 * 0% 0
On Next 1,00,000 * 5% 5,000
On Next 1,00,000 * 10% 10,000
Total Tax 15,000
Less: Rebate on Tax Free Income (1500)
Tax Liability 13,500
Average Tax Rate (15,000 / 5,00,000)*100 = 3%

Rebate on Tax Free Income 50,000 * 3% = 1500

Tax Credit Income / Investment Allowance
1. Included in the determination of total income.
2. Applied Applicable Tax Rate. Sixth Schedule,
3. Calculate Actual Investment Amount. Part B
4. Calculate Eligible Amount.
(Lesser one: Actual Investment or 25% of Total Income or 1,50,00,000).
5. Apply Investment Allowance Rate on Eligible Amount. (Next Slide)

Tax Credit Income / Investment Allowance
Total Income Amount of Credit/Rebate
Total Income: Up to 10,00,000 1. 15% of the eligible amount
Total Income: 10,00,000 – 30,00,000 1. 15% of the first 2,50,000 Taka of the eligible
amount.
2. 12% of the rest eligible amount.
Total Income: More than 30,00,000 1. 15% of the first 2,50,000 Taka of the eligible
amount.
2. 12% of the next 5,00,000 Taka of the eligible
amount.

Eligible Amount (Base for charging Tax Credit rate)
Lesser of:
Actual Investment
25% of Total Income
1,50,00,000 Taka

Actual Investment
Investment described in Sixth Schedule, Part B. Read it from Chapter 5.
Such As:
1. Life Insurance premium: Maximum 10% of the Policy Value.
2. Contribution to Provident Fund: Full Amount.
3. Contribution to DPS: Maximum 60,000 Taka.
4. Investment in Computer/Laptop: 50,000 / 1,00,000
5. Donation to Zakat Fund, Charitable Hospitable etc.
6. Investment in Share market, Government Treasury Bond etc.

If your income is 30,00,000 Taka
and your actual investment
Problem:
Sixth Schedule, according to Sixth Schedule, Part
Part B B is 4,00,000 Taka, Calculate your
Income tax.

Solution
Income Tax on Regular Rate:
Taxable Income Tax
On First 3,00,000 * 0% 0
On Next 1,00,000 * 5% 5,000
On Next 3,00,000 * 10% 30,000
On Next 4,00,000 * 15% 60,000
On Next 5,00,000 * 20% 1,00,000
On Rest 14,00,000 * 25% 3,50,000
Total Tax 5,45,000

Solution
Eligible base for Investment Allowance Calculation:
Lesser of:
Actual Investment = 4,00,000
25% of Total Income = 7,50,000
1,50,00,000 Taka

Solution
Slab Selection
Total Income Amount of Credit/Rebate
Total Income: Up to 10,00,000 1. 15% of the eligible amount
Total Income: 10,00,000 – 1. 15% of the first 2,50,000 Taka of the eligible
30,00,000 amount.
Total Income: More than 30,00,000 1. 15% of the first 2,50,000 Taka of the eligible
amount.
2. 12% of the next 5,00,000 Taka of the eligible
amount.

Solution
Taxable Income Tax
On First 3,00,000 * 0% 0
Investment Allowance On Next 1,00,000 * 5% 5,000
On Next 3,00,000 * 10% 30,000
2,50,000 * 15% = 37,500 On Next 4,00,000 * 15% 60,000
1,50,000 * 12% = 18,000
On Next 5,00,000 * 20% 1,00,000
Total: 55,500
On Rest 14,00,000 * 25% 3,50,000
Total Tax 5,45,000
Less: Investment Allowance (55,500)
Tax Liability 4,89,500

DO IT
Tanzila has earned 30,00,000 taka during the latest

income year. She has shown 21 Crore BDT Net Asset
in the Balance Sheet and 5,00,000 taka as Actual
investment according to Sixth Schedule, Part B.
What will be her Tax Liability?

Sixth Schedule, Part A: Tax Exemption
Particulars Total Amount Exemption Taxable Amount
Basic Salary 5,00,000 - 5,00,000
Bonus 2,00,000 - 2,00,000
House Allowance 3,00,000 3,00,000 0
Medical Allowance 50,000 50,000 0
Book Allowance 10,000 10,000 0
Conveyance Allowance 20,000 20,000 0
Total 10,80,000 3,80,000 7,00,000

Tax Payable Income
Total Tax + Surcharge – Investment Allowance

Chapter 6: Income from Salary
Section 20:
❑Periodical Payment made for work to an employee from an employer for the services rendered
to him.
❑Any pay or wages
❑Any annuity, pension or gratuity
❑Any fees, commission, allowance, perquisites
❑Any advance of salary
❑Any leave encashment

Points to be remembered
1. Employer-Employee Relationship
2. If there is no such relationship, income will be shown under ‘income from other sources’.
3. Employment can be part time of full time.
4. In case of multiple employers, all the income should be merged as salary income.
5. Pension received by an assessee from his former employer is Salary income but if it received
by his family member after his death, it will be ‘income from other sources’.
6. Salary of a Minister of Government is Salary income, but Salary of a MP is income from other
sources.

Perquisite
Includes:
❑Insurance Premium borne by the employer
❑House for free or at concession
❑Entertainment
❑Conveyance Allowance
❑Car for personal use
❑House servant, gardener etc.

Please open your book and go through 6.4
(149 Page, Chapter 6)

Basic Salary
6000-200-10000

Master Class Taxation - 2

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Principles & Practices of Taxation

MOHAMMED MOIN UDDIN REZA, ASSISTANT PROFESSOR, BUP

26/08/2020 MOHAMMED MOIN UDDIN REZA, ASSISTANT PROFESSOR, BUP 1

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Direct Tax Gift Tax Indirect Tax

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• Person from whom government collects

• Person who finally bears burden of a

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Canon of Canon of Canon of Canon of

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If your income is 30,00,000 Taka, Calculate your Income tax.

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General People 3,00,000

Women and 65+ People 3,50,000

Disabled People 4,50,000

Freedom Fighters 4,75,000

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3. For Bank, Insurance and Financial Institutions:

4. For Merchant Banks 37.5%

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6. Mobile Operator companies not publicly traded 45%

8. Non-Resident Foreigner 30%

9. Co-operative societies (Registered under Co-operative societies Act 2001) 15%

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1. Net Asset up to 3 crore 0% 0

2. Net Asset 3 Crore – 5 Crore or 10% 3,000

4. Net Asset 10 Crore – 15 Crore 20% 5,000

5. Net Asset 15 Crore – 20 Crore 25% 5,000

6. Net Asset more than 20 Crore – 50 Crore 30% 5,000

7. Net Asset more than 50 Crore, then

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Mrs. Tanzila has earned 30,00,000 taka during the

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Mrs. Tanzila has earned 3,00,000 taka during the

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Find out the Income & Assessment Year

30.06.2007 2006- 07 2007- 08

30.09.2007 2007- 08 2008- 09

31.12.2007 2007- 08 2008- 09

31.03.2008 2007- 08 2008- 09

31.07.2008 2008- 09 2009- 10

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Income Received, Accrued or

Income Accrued or arose Non-

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