297E房地产企业经营活动的税务筹划探讨 外文原文.docVIP

Tax Planning in Business: Bangladesh Perspective Swapan Kumar Bala, FCMA Associate Professor Department of Accounting Information Systems University of Dhaka, Dhaka Abstract: This paper highlights the tax planning issues in the context of business environment in Bangladesh. Given the complexity and the tax law ambiguity prevailing in Bangladesh, this paper encompasses the traditional tax planning devices along with a brief overview of tax planning strategies. The fiscal plans are referred to the related tax law provisions (mentioned in the appendices in a very organized manner), which are expected to be very useful for the existing and potential businessmen. Keywords: Tax compliance, Tax minimization Effective tax planning, Tax strategy, Tax incentives. 1. Introduction The term ‘tax planning in business’ consists of three main words: tax, planning, and business. Tax is “a contribution exacted by the state” – Chambers English Dictionary (1992). “The term taxes is confined to compulsory, unrequited payments to general government” – (OECD, 1988: 37; vide Wilkinson, 1992: 2). Planning is “the process of determining in advance the factors necessary to achieve a set of goals; designing an effective means of achieving some future goals (ends)” – Kohler’s Dictionary for Accountants (Cooper and Ijiri, 1984: 383). Business means “the carrying on of trade or commerce, involving the use of capital and having, as a major objective, income derived from sales of goods or services” – Kohler’s Dictionary for Accountants (Cooper and Ijiri, 1984: 78). According to section 2(14) of the Income Tax Ordinance (ITO), 1984, “business” includes any trade, commerce or manufacture, or any adventure or concern in the nature of trade, commerce or manufacture.Thus, ‘tax planning in business’ means dealing with the tax matters of a business entity with a view to maximizing the after-tax rate of return on investments after ensuring voluntary tax compliance. For this purpose, each business e