Understand the Problem
The content discusses the tax structure of Bangladesh, including categories of direct and indirect taxes, historical development, and specific taxes imposed on income and property. It aims to explain how income tax is categorized and the overall significance within the government's revenue system.
Answer
Bangladesh uses direct (e.g., income tax) and indirect taxes (e.g., VAT) to optimize revenue.
The tax system of Bangladesh includes multiple types: direct taxes like income tax and indirect taxes such as VAT. The system aims at optimizing revenue collection and minimizing tax evasion. Income tax has a progressive rate and is a significant revenue source.
Answer for screen readers
The tax system of Bangladesh includes multiple types: direct taxes like income tax and indirect taxes such as VAT. The system aims at optimizing revenue collection and minimizing tax evasion. Income tax has a progressive rate and is a significant revenue source.
More Information
Personal income tax in Bangladesh is progressive, increasing with higher income, while corporate income tax has a flat rate. The system also includes excise duty, customs duty, and VAT, contributing significantly to national revenue.
Tips
Commonly, people confuse direct and indirect taxes. Remember, direct taxes are paid directly by individuals, while indirect taxes are passed on to others.
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