Business Communication 501

: Group Assignment
Assignment Topic: Impact of VAT in restaurant Industry

Submitted to:
MD. LATIFUL KHABIR
Faculty of Business Administration
MBA Program

Submitted by:

Name ID
ABRAR KARIM 17206002
MD. MOHTASIM REZVEE 1-17-002-005
SAHADATH HOSSAIN 1-17-006-001
UMME SALMA 17202004
MOHIUDDIN 1-17-006-007

DATE: AUGUST 19, 2017

Letter of Transmittal

19 August 2017

Prof. MD. LATIFUL KHABIR

Faculty of Business Administration

MBA Program

Subject: Submission of Assignment on Impact of Vat in Restaurant Industry

Dear Sir:

It is our sincere pleasure to submit the assignment on Impact of Vat in Restaurant Industry as a
requirement of successful completion of the course Bus 501 Business Communication which is
prepared by the 5 members of the group. This report has been prepared by using various
communication analysis tools which provided us the opportunity to apply and understand the
practical implication of knowledge and models learnt throughout the semester. It also has given us
a glimpse of our individual understanding and skills in various situations. You would be pleased
to know that we have given our utmost effort in the assignment and tried the best of our capability
to complete it. We hope you would find it up to the mark of your expectation.

Sincerely yours,

ABRAR KARIM
Id: 17206002
MD. MOHTASIM REZVEE
Id: 1-17-002-005
SAHADATH HOSSAIN
Id: 1-17-006-001
MOHIUDDIN
Id: 1-17-006-007
UMME SALMA
Id: 1-17-006-007
Acknowledgement

At first we must show our gratitude to the almighty Allah for giving us enough courage and
strength to prepare the report in due time. Then we would like to extend our sincere thanks and
deepest gratitude to our honorable faculty PROF. MD. LATIFUL KHABIR for providing us a
wonderful opportunity to work in this assignment, without his excellent guidance and invaluable
support throughout the semester and for the preparation of the assignment it would not have been
possible to complete the assignment. The topic of the assignment was also wisely chosen by the
honorable faculty so that we get the firsthand experience of real life application. It helped us to
gain more knowledge about the impact of Vat in restaurant industry of Bangladesh. It enriched our
understanding of different vat system that corporate faces. We would also like to thank all the
people who gave their valuable opinion which helped us to reach the conclusion of the assignment.
Executive Summary
VAT introduced in Bangladesh in its initial form was a sort of consumption tax (by allowing
purchase of capital goods as input), which extended its coverage up to the level of import,
production or manufacture and service-rendering but not to export (which is zero-rated),
wholesale or retail level. Since the financial year 1996-97, VAT in Bangladesh has become a
broad-based consumption expenditure tax by covering the wholesale and retail levels. VAT is
imposed on the following goods and services: all goods imported in Bangladesh except those
mentioned in the First Schedule of the VAT Act; all goods supplied except those mentioned in
the First Schedule of the VAT Act; and all services provided in Bangladesh except those
mentioned in the Second Schedule of the VAT Act.

The standard tax rate for VAT has been fixed all along at 15% (for taxable goods and services).
The adoption of truncated value-bases caused multiplicity of practical tax rates, but VAT rate
is a single, flat or uniform one. The rate of turnover tax (TT) is also uniform at 4% (2% up to
11 June 1997). But the rates of supplementary duty (SD) are multiple. At the beginning (FY
1991-92), there were five different rates which ranged from 10% to 85%. Next rates were eleven
in number and ranged from 5% to 350%. For FY 2000-01, there are 31 different rates that
ranged from 2.5% as on coffee to 350% as on cigarettes.

The computation of actual value-addition requires detailed recording of payments for

goods/services bought, which is not properly done in Bangladesh. To ease the administrative
steps for taxation of services, in specified cases, a truncated value-base was fixed with the
option of waiving input tax credit. Under the VAT system, tax points depend on the stage of
production and distribution. For goods imported by any importer, VAT is to be paid at the time
of paying import duty under the Customs Act 1969. In April 1979, the Taxation Enquiry
Commission (TEC) officially took up the issue of introducing VAT in Bangladesh as an
alternate to sales tax. Until 1982, sales tax was being collected under the Sales Tax Act 1951,
which was replaced by the Sales Tax Ordinance 1982 with effect from 1 July 1982. The World
Bank played the pioneering role in introduction of VAT in Bangladesh. A World Bank Mission
visited Bangladesh for preparing an agenda for tax reform in Bangladesh in December 1986
Table of Contents
Background of the Report ............................................................................................................................. 1
Objective ....................................................................................................................................................... 1
Methodology................................................................................................................................................. 2
Introduction .................................................................................................................................................. 3
Impact of Vat in Economic and Social Development .................................................................................... 3
Value Added Tax on the Restaurant industry ............................................................................................... 4
Finance Minister Muhiths Opinion .............................................................................................................. 4
Vat collection from the consumer ................................................................................................................ 5
Effect on Consumers ..................................................................................................................................... 6
From Restaurant Owners Point of View ...................................................................................................... 7
Value Added Tax Features in Bangladesh ..................................................................................................... 7
Conclusion ................................................................................................................................................... 10
Recommendation........................................................................................................................................ 10
Reference .................................................................................................................................................... 12
Background of the Report
This report entitled Impact of VAT in Bangladesh at Restaurant Industry is a fundamental
requirement for the completion of the course Business Communication 501. The main purpose of
this report is to extract the information of the Value Added Tax practiced in Bangladesh restaurant
industry. Under the instruction and guidance of the course instructor, we have taken the initiative
to conduct the research and prepare this assignment with much precision and by being completely
unbiased.

Objective
The general objective of this report is to provide a synopsis of how Value Added Tax is practiced
in our country and related consequences. It is also required for the completion of this course.
Beside the general objective, the objectives behind this report are given below:
Primary Objective:
The primary objective of the report is
To analyze on the issue The Impact Study of VAT in Bangladesh.
To disclose the precise scenario of the The Impact Study of VAT in Bangladesh.
To analyze and recommend on the mentioned issues.
Secondary Objective:
The secondary objective to prepare this report is
To fulfill the requirements of our course BUS-501
To have a clear understanding about the activity of specific descriptive research technique.
To gather experience and knowledge of doing a professional assignment.

Scope of the Study

This assignment will cover the topic Impact of VAT in Bangladesh at Restaurant Industry and
its related issues. It also includes recommendations against the selected issues. This report can be
used as a secondary source for further purposes.

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Sources of Information
To fulfill the objective of this report collection of relevant, accurate, standardized and needful
information was required. To make this report reliable we have collected data from secondary
sources. Special consideration was given so that chances of biasness could not arise. The sources
used were:
Secondary Sources:
Secondary data represents the data which are made by others but it is useful for another purpose
or research. As a part of collecting data from secondary sources, we have referred different books
of Tax and VAT. We collected our data from the magazine, news paper, libraries and also from
the websites.
Limitations
No study is beyond any limitations. While doing this research study we had to face some
difficulties. The limitations of the research activities are as follows
We did not have so much experience for conducting research and preparing the report very
frequently, though we are in learning position.
In depth interview some participants were unenthusiastic to provide enough information.
There was no current information related to Bangladesh on the Website.
There was lack of precise information; both primary and secondary.
There was not enough time to analyze the selected issues.
Our resources (such as, human resource, financial resource, etc) were limited. So it was
hard for us to prepare a professional report with our limited resources.

Methodology
This report covers the different aspects and activities that are required for the collection of VAT
by the Govt. in restaurant industry at Bangladesh. However, the report is prepared based upon the
information collected from several persons and organizations who are involved in the relevant
business like dealing with VAT able goods and services, the researchers own judgments and also
from the Internet. The findings are strictly structured upon information provided by these sources
and some secondary sources. The focus here is on presentation of facts as discovered.

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Introduction
The main components of indirect tax in Bangladesh are Value Added Tax (VAT), supplementary
Duty and Excise Duty. VAT is imposed on producer, manufacturer, importer, exporter or service
render under the Value Added Tax Act, 1991, on goods or specified services, at the rate of 15%
at every stage of transfer. VAT paid against the input is adjustable against the VAT on output to
be collected from the buyers and the net sum stands payable on delivery of goods or specified
services to the VAT authority. Exemption is allowed to certain goods or service or certain
taxpayers. All cottage industries, except those producing particular products, are exempted from
VAT. But, manufacturer, producer or service render (other than cottage entrepreneurs), whose
annual turnover does not exceed Taka 1.5 million are required to pay Turnover Tax at the rate
of 2.5 per cent in lieu of 15 per cent VAT. This limit is too low for small industries. As a result,
small industries are subjected to the same 15 per cent VAT as their large-scale counterparts. In
addition, supplementary duty is imposed at variable rates on certain categories of consumption
goods across all size categories. Finally, excise duty applies to a limited number of items
irrespective of size classification.

Impact of Vat in Economic and Social Development

In common with many developing countries, Bangladesh faces problems in raising sufficient tax
revenues to fund its economic and social development. To address this problem and to improve
economic efficiency and growth, a major tax reform program was initiated in 1991 which centered
on the introduction of a valued-added tax (VAT) to replace a range of narrowly-based consumption
taxes. Taxation 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. Tax is a contribution exacted by the state. It is
compulsory and unrequited transfer of resources from the private to the public sector, levied on
the basis of predetermined criteria.

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Value Added Tax on the Restaurant industry
Bangladesh is finally going to implement a single and uniform VAT rate, ending the two-and-a-
half-decade system of multiple VAT rates for different goods and services. From July 1, people
from all walks of life will have to pay 15 percent VAT (Value Added Tax) on most goods and
services.
Over the last several years, the government dithered over the introduction of a uniform VAT rate
amid fears that such move would cause a spike in living costs. However, Finance Minister AMA
Muhith offered VAT waiver on a host of essentials and services, including edible oil, sugar, basic
education, healthcare and medical services as well as life-saving drugs. He also tried to make the
business community happy by fulfilling most of its demands. Despite the waiver and the revenue
authorities' repeated assurance of price stability, concerns of a price spiral remain in the country
where allegations of low ethical standards and price manipulations are rife.
Many consumers fear that unscrupulous businesses may charge them higher prices than usual on
the excuse of imposition of a flat VAT rate. The National Board of Revenue recently suggested
that the Power Division don't hike tariff, and that it claim rebate so electricity price doesn't go up
for the increase in VAT to 15 percent from 5 percent now. Eating at non-air-conditioned restaurants
would be costlier as VAT on those would go up to 15 percent from 7.5 percent. How judiciously
do consumers ask for a VAT receipt or check the electronic receipts for VAT details when paying
the bill? There is just not a practice of requesting VAT receipts or chalan in this country and this
is a big drawback, explains Hossain. Often, especially small stores and restaurants actively
encourage customers to opt out of VAT by not issuing a receipt. If a customer requests a receipt,
he or she is then charged the 15 percent VAT in addition to their bill.

Finance Minister Muhiths Opinion

Muhith, however, said the prices of essential commodities are likely to come down as those are
exempted from VAT. Their prices are not supposed to increase under any circumstances, he said.
The new VAT system uniformly spreads the tax burden at every stage of transaction and doesn't
create unnecessary tax burden at any particular stage, claimed the finance minister. It allows the
taxpayers to pay VAT only on the value addition they make at their end. Azharul Haque Azad,
president of Fashion Entrepreneurs Association of Bangladesh, said it would be difficult for many

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businesses to claim rebate. Azharul, who owns a restaurant Bonnaro, also feared that some
businesses may start charging buyers extra before July 1 when the new VAT law comes into effect.
VAT was introduced in 1991. More than two decades later, the government formulated the VAT
and Supplementary Duty Act, which provides for imposition of a uniform VAT rate. The
government had initially planned to implement the new law from July 2015, but it backtracked
twice amid opposition from businesses, which said their concerns were not addressed properly in
the law. Revenue officials say the new law has been framed to boost revenue collection from
domestic economic activities, as the existing law suffers from various limitations such as package
VAT. The economy has expanded a lot over the last several years but potentials for increasing
revenue collection cannot be tapped fully without going for a new VAT law.

Vat collection from the consumer

VAT is now the biggest source of revenue. It accounted for nearly 36 percent of the NBR's total
revenue collection of Tk 150,000 crore in fiscal 2015-16. The government has set a VAT collection
target of Tk 91,344 crore in the coming fiscal year, around 33 percent higher than the revised VAT
collection target of Tk 68,768 crore in the outgoing fiscal year.
At present, VAT rates ranging from 1.5 percent to 10 percent are applicable to more than 80
products, including newsprint, biscuits, paper, rod and bricks, and nearly 20 services. But the VAT
rates would go up to 15 percent with the imposition of a uniform VAT rate from fiscal 2017-18.
This rate will be 15 percent, which will be unchanged over the next three years, said the finance
minister. Many consumers and businesses have already become accustomed to paying 15 percent
VAT since 1991, he said. A considerable milestone towards implementing the new act was
achieved by incorporating some structural changes in the new law, proposed by the business
community on several occasions, mentioned the minister. Now the business community is also
ready to accept and welcome the new Vat system.

VAT appears to be one of the best forms of tax. But some businesspeople don't want to keep
accounts at different stages of production and service delivery under the VAT system, he said. Of
the 8.5 lakh registered firms, only 32,000 pay VAT, the minister pointed out. The government
hopes the number of return filers would go up to 60,000 within the next two years. To make
businesses happy, Muhith suggested raising the VAT-free turnover ceiling to Tk 36 lakh from Tk

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30 lakh. The firm with this annual turnover will be completely out of the scope of tax. He also
proposed raising the threshold for registration under VAT to Tk 1.5 crore a year from the existing
Tk 80 lakh, and also imposing 4 percent turnover tax on the businesses. Revenue officials say the
raise in threshold would cause an estimated loss of Tk 10,000 crores in revenue. The minister
termed the increase in the turnover ceiling a unique opportunity for small entrepreneurs, which
is not available in other countries. Several changes have been incorporated in the new law to
simplify the VAT collection procedures according to the proposals of the business community, he
said. He also suggested keeping 1,666 items under the scope of supplementary duty on import,
instead of bringing down the number to 170 as envisaged in the new law, to protect the interest of
domestic industry.Certain businessesrestaurants, sweetmeat shops, and branded stores in
particular cheat on paying the VAT received during transactions to the National Board of Revenue
(NBR), says Zakir Hossain, deputy project director of the VAT Online Project, NBR. However,
another challenge in ensuring effective VAT collection comes from the consumers themselves.

Effect on Consumers
Following the imposition of a uniform rate of value added tax (VAT) in the proposed budget, it is
being feared that it is the middle class that would have to bear the brunt of severe inflationary
pressures. According to the proposal, the consumers would have to pay VAT on the basic services
as well as air-conditioned restaurants and tea. VAT has also been imposed on junk foods. Common
people would have to pay 15 per cent. It would affect their lifestyles and also impact commodity
prices. Fariya Rahman, 23, a resident of Chittagong, eats out on average five times per week. After
the new imposition of 15 percent VAT on restaurants, she started being aware and asking for VAT
receipts after transactions which charged VAT. Ofthe two places I asked, one gave me a
handwritten blue challan and the other said they had run out of the paper for receipts. Usually,
such places which provide handwritten receipts

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From Restaurant Owners Point of View
For restaurateurs, though the new online system seems promising for smoother VAT collection, at
the same time an increase in VAT may prove problematic. Customers may be dissuaded by the
higher costs of eating out as a result of the increase in VAT compounded by existing service
charges. This comes at a time when the restaurant business is already struggling with rising food
prices and customers going out to eat less frequently. Sumit Ahmed, owner of Kung Food, an
eatery in Uttara, prefers the new online system. Earlier, it was a hassle going repeatedly to the
VAT offices, first to submit monthly VAT received and then to collect challans, says Ahmed. His
eatery uses the ECR and thinks that the new automated system of VAT collection will be smoother
for restaurants.

The NBR has rolled out a dedicated website for taxpayers to learn how to register, pay, and file
returns online. This is especially convenient for businesses which can now ensure regular
compliance from their offices instead of rushing back and forth to the tax offices. Business owners
are required to obtain a unique BIN by doing VAT registration online. As of June 18, online
registration of 40,699 eBINs has taken place across the country, according to NBR data. Earlier
sum up of taxes was around 18.5%-20.5% depending on VAT rates in different states and now it
will be 18% so ultimately final customer will be benefited. Perhaps, restaurant owner will also be
benefited in the upcoming regime. Under the current situation, restaurant business owners do not
get any option to adjust the output service tax liability with the credit of input VAT on goods
consumed. However, under the new regime both these taxes will get subsumed and thus
irrespective of goods and services, credit of input will be available for adjustment against the
output liability. This will further optimize the working capital of these restaurants.

Value Added Tax Features in Bangladesh

The main features of VAT in Bangladesh are as follows:

VAT is imposed on goods and services at import stage, manufacturing, wholesale and
retails levels;
A uniform VAT rate of 15 percent is applicable for both goods and services;
15 percent VAT is applicable for all business or industrial units with an annual turnover
of Taka 2 million and above;

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 Turnover tax at the rate of 4 percent is leviable where annual turnover is less than Taka
2 million;
VAT is applicable to all domestic products and services with some exemptions;
VAT is payable at the time of supply of goods and services;
Tax paid on inputs is creditable/adjustable against output tax;
Export is exempt;
Cottage industries (defined as a unit with an annual turnover of less than Taka 2 million
and with a capital machinery valued up to Taka 3,00,000) are exempt from VAT;
Tax returns are to be submitted on monthly or quarterly or half yearly basis as notified
by the Government.
Supplementary Duty (SD) is imposed at local and import stage under the VAT Act, 1991.
Existing statutory SD rates are as follows:
A. On goods: 20%, 35%, 65%, 100%, 250% & 350%
B. On services: 10%, 15% & 35%.
Cigarettes, natural gas and petroleum products which were the major sources of excise duties,
initially were kept beyond VAT net work. In 1992-93 these items were brought under VAT. It
may be mentioned that at present manually made cigarettes (known as Biri), part of textile items
& services rendered by commercial banks are still under excise system. The primary requirement
under VAT system in Bangladesh is to have registration numbers by all taxable persons from the
local VAT authorities.
Such registrations are compulsory for each location of a business. The taxable persons are to
apply in a specific form to the VAT authority if their annual turnover exceeds 1.5 million taka.
The taxpayers are given a registration number through a specific certificate. The registration
certificate contains along with other information the activity codes in which the person is related.
The registration numbers are used by the taxpayers in their business transactions. Registrations
are done free of cost and are not subject to renewal. Any person whose annual turnover is less
than 1.5 million taka or any person outside VAT may also apply for registration voluntarily. Any
registration may be cancelled if the person discontinues his business or if his annual turnover is
found to be less than 1.5 million taka.
Under the VAT system in Bangladesh all tax payers are required to maintain books of accounts
regarding purchases, sales, raw materials, finished products etc. They are also to maintain an

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account current book to help them to determine the amount of VAT due and the amount actually
paid for taxable goods. Payments of taxes are made through adjustments in the account current
book. Credit available for input taxes and refund against export can be used to settle the liability
for output tax.
The value of imported goods for levy and collection of VAT is considered to be the assessable
value for levy of custom duties plus other duties and taxes. While for domestic goods, this value
is consideration (the money value) at which the goods are supplied by the manufacturer, this value
includes all costs, charges, commission, duties and taxes except the VAT amount. On the other
hand, the gross receipts are considered to be the basis for determining the VAT liability for
services in general. But in special cases, some narrow base values instead of gross value are taken
into account for VAT calculation. Again in some cases, tariff values are fixed as base value for
determining VAT.
Each tax payer is required to issue a tax invoice, as proof of payment of VAT, for each supply of
goods or services. However, the importers are not required to issue any tax invoice. But when
importers sell their goods they may issue a supplementary tax invoice to a VAT registered person.
VAT on imported goods is to be paid by the importers at the time when the customs duties on it
are paid. In other words, VAT at import stage is paid before clearance of goods. But for the local
manufactured goods VAT is payable at the time of supply of goods and services. Each registered
supplier of goods or services is eligible to take instant credit of the VAT paid on inputs. The
payments of VAT for goods (output tax) are made through adjustment in the account current
book.
Taxpayers are to keep sufficient balance in their credit in the current account book either through
deposition of money to the Govt. treasury or through their input tax credit. System have also been
introduced to collect taxes on certain services like Construction, Motor Garages & Workshops,
Printing, etc. at the source point of payment. Each taxpayer is to submit a tax return for each tax
period (each calendar month) within 20 days of a month following the tax period. The VAT
authorities examine the returns, and enter the data into the computer. All exports of goods &
services are zero rated under VAT system. Moreover, all input taxes (VAT, Customs duty, Excise
duty etc) paid on the inputs used for manufacturing the exported goods is refundable. Such input
taxes against export are refunded either in actual or on a flat rate basis. Refund claims of input
taxes are dealt with by a Duty Exemption and Drawback Office (DEDO).

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Value added tax system in Bangladesh gives special treatment to the small firms. Under the
system, small manufacturers and services whose annual turnover is less than 1.5 million taka is
exempt from VAT but they are to pay turnover tax @ 2 per cent. Such turnover tax can be paid
either at a time or on quarterly basis. But they are not entitled to get credit benefit of their input
taxes Moreover, a small firm whose annual turnover is less than 1.5 million taka and whose
investment in capital machineries only during a particular year does not exceed 300,000 taka are
treated as a cottage industry and is fully exempt from VAT or turn over tax. They are also free
from VAT formalities. It is easy to have the benefits of VAT in an economy where it is
implemented in a comprehensive form covering all tiers of production and distribution as well as
to all economic activities. The single stage VAT in Bangladesh has undoubtedly widened the tax
base as compared to excise or sales tax system and has brought a favorable result in collection of
taxes but it had limited further results due to some limitation and distortion in its application

Conclusion
However, some of the states are still attempting to push forward the deadline as this will allow all
states to effect the transition to VAT at the same time. This will also provide some more time to
the central government to amend central sales tax act, bring legislative changes for
implementation, taxation of services at state level and settlement of procedure for compensation
to states on account of losses in revenue collection due to implementation of VAT. The delay
would also give the states more time to put administrative arrangement into place and training
employees for the new system. Clearly, there is a need to popularize the scheme of VAT through
persuasion, allaying the genuine fears of all the parties. New regime will be theoretically superior
to the existing regime known to all. If effectively implemented, it will ensure greater transparency.
It will also have the great merit of being simpler to monitor. Even from the revenue angle, it should
increase the revenue in the hands of the State Governments.

Recommendation
The blessings of science and technology give us clue about the solution to overcome the drawbacks
of the current system. This solution will engage the equipment more in the system to lessen human
effort. To be understandable, the structure is explained below- The sum of Tax-VAT will be

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calculated and the report will be sent to HO from warehouse after every particular time phase.
Then HO will merge it via software and also check the detail. As the entire system is run by
software and server, so it is less prone to dispute. After compiling the entire Tax-VAT in a specific
time phase, F&AD will call for fund to Treasury. Treasury will disburse it online to BB and also
obtain a treasury challan online. Analysis of VAT-Tax- payment system of 26 BB will propel the
statements to Tax-VAT authority where the feature of payment by CBL will be recorded and
then they will notify CBL about the position of Tax-VAT. This system eliminates effort of
producing the statements, challan copies and giving out separate documents to customers and
regulatory body.

The Govt. has already decided to automate and computerize the whole range of activities of Tax-
VAT. Under the new system, all activities of VAT such as- Registration & Taxpayers service,
Return filling, Query, Payment of taxes, refund, and calculation of VAT- everything will be done
online. The taxpayers will be able to complete VAT related activities without visiting VAT office
that ultimately results in better business and less cost. The new system aims to be a business
friendly VAT system. As part of this initiative, the new VAT & SD Act, 2012 has been passed by
the Parliament. The govt. is planning to implement the new VAT Law by 1st July, 2015. In order
to adopt the new method of Tax-VAT, CBL should train its employees to work with the new
system and substitute effort by technology. It will be a remarkable revolution for Tax-VAT system
so far.

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Reference

Bala Swapan Kumar (2009), Complexities in the Income Tax Laws: A Quest for a Simpler
Taxation System, International Business Forum of Bangladesh (IBFB)

Islam, Sirajul (2003) Permanent Settlement in Bangladesh; National Encyclopedia of

Bangladesh, Vol 8, Edited by Sirajul Islam et at. Asiatic Society of Bangladesh, 2003

Ahmed Helal Uddin (2015), The Permanent Settlement and its effect in Bengal,
http://www.thefinancialexpressbd.com/2015/01/17/76206/print

Nashid Rizwana Monir (2012), Political Economy of Corruption: The Case of Tax Evasion in
Bangladesh, Monash University

Mansur A H (2015), Fiscal Management and Revenue Mobilization, prepared as a background

paper for the Seventh Five Year Plan 2016-20 of Bangladesh

Muhith Abul Maal Abdul (2015), Budget Speech 2015-16, Minister, Ministry of Finance,

Prakash Prashant (2003), Property Taxes Across G20 Countries: Can India Get it Right? , CBGA
and OXFAM India NBR Annual Report 2013 and 201 ,
http://www.nbr.gov.bd/Publications.php?lan=eng

http://www.thedailystar.net/business/nbr-widen-reach-withholding-tax-93577

Prothomalo, 31 May 2014, http://www.prothom-alo.com/opinion/article/229474/

Sen Binayak (2014) Wealth and Inequality

Mansur A.H. and Yunus M, (2011)"An Evaluation of the Tax System in Bangladesh"

Hossain Md. Zakir (2015), Value Added Tax: Act, Rules and Usage, Dhupradi Publication, Dhaka

Faridy Nahida and Sarker T K (2011), Progressivity of VAT in developing country: empirical
evidence from Bangladesh, Asia-Pacific Tax Bulletin, May/June 2011

Begum L. (2007), "A Panel Study on Tax Effort and Tax Buoyancy with Special Reference to
Bangladesh", Policy Analysis Unit Bangladesh Bank, Working Paper Series: WP0715

Khan Towfiqul Islam and Sadique Md. Zafar (2014), Value Added Tax and Supplementary Duty
Act 2012: Concerns and Implementation Challenges, CPD, Dhaka

A Panel Study on Tax Effort and Tax Buoyancy with Special Reference to Bangladesh,
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2007

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