After successful completion of the course, students are expected to be able to: 1. understand the role of taxation in overall economic development of an economy 2. understand the place of taxation in overall fiscal policy of government 3. understand relevant provisions of the personal and corporate taxation rules in Bangladesh 4. independently assess the tax liabilities of personal and corporate entities Course Description: Taxation laws by nature, a very complicated subject. The main principles of law are fairly simple but the difficulty arises in their applications.
For economic development of a country, taxation system can be used as an important tool in the productive use of available resources, contribution towards budgets funds, direct investments, and control of economy. This course will address the role of taxation in overall economy of a country specially developing countries like Bangladesh. This course addresses personal and corporate taxation system prevailing in Bangladesh. The tax assessment and collection procedures will be addressed in detailed. Provisions relevant to submission of Tax return, filling of statement of assets and liabilities will be discussed.
The important features of Value Added Tax and Customs Duties prevailing in Bangladesh will be covered. This course will be very much helpful for filing personal and corporate Income tax return as well as understanding of the Income tax rules and procedures prevailing in Bangladesh. Teaching Methods: In order to achieve success, it is vital that the course tutor and the students cooperate with each other in identifying areas, which may need further clarification. It is expected that classes will be proactive with contribution from all participants.
Visual presentation (power point) will be used for better understanding of various topics in the course. Required Text: Shil N. C. , Z. Masud and F. Alam , “Bangladesh Income Tax: Theory and Practice”, 6th edition, Shams Publications. Reference Text: 1. Income Tax Ordinance, 1984, Govt. of Bangladesh. 2. Dr. AKM Matiur Rahman, Noncompliance of Income Tax Laws in Bangladesh-Challenges and Remedies, Maliha Prokason. Policy for missed classes, quizzes & midterm examination: Students are requested to attend all classes & to read assigned textual material prior to attend the class.
A student missing the significant number of classes without a valid reason may be dropped out (UW) from the course. No make up would be allowed for missed quizzes. Students are not expected to become absent in Mid-Term Examination. But due to unavoidable reason if any student missed the Mid-Term Examination, he/she can attend the make up Mid-Term Examination only if the authority approves the matter. The make up should be arranged within one week of the particular examination date. Evaluation: | Term Session| Quizzes | 20%| Individual Assignments| 10%|.
Class Participation/Attendance| 10%| Midterm Examination | 30%| Final term| 30%| Total| 100%| Assignment: The topic of the assignment will be informed in the class. All the assignments will be individual based and must be submitted on or before the due date. No late submission of assignments will be accepted. Grading Policy: Grades will be calculated as per the university grading structure. Class behavior & policy: A. The instructor retains the right to take any appropriate action necessary against any student(s) for disruptive behavior – no warning given. B.
Students are expected to attend class and be on time. Students must have 80% attendance of the total number of classes. It is entirely the responsibility of the students to collect the materials that has been missed due to failure of attending any classes for any reason whatsoever. Let it be reminded that lectures will not be repeated. Withdrawal from class is not automatic. The student who desires to withdraw is responsible for processing the withdrawal. C. Students are encouraged to actively participate in the class discussion and ask relevant questions. D.
Students must turn off their cell phones or put on silent mode prior to entering the classroom. E. Honesty is the best policy. Any sort of academic dishonesty will result in severe consequences and may lead to receiving a failing grade. Course Content: Lectures| Learning Topics| Reference| Lecture1-2 | Introduction:Definition of public finance, Importance of public finance, sources of public finance, Definition of Tax, characteristics of tax, cannons of taxations, classification of tax, role of tax in economic development of a country, tax systems in Bangladesh.
| Shil, Masud and AlamChapter – 1| Lecture3 – 5 | Income Tax:Definitions of the terms used in income tax, meaning of income, scope of Bangladesh Income Tax Law, classification of income and its impact on assessment of income, assessment year, financial year, residential status, charging of tax and tax rates. | Shil, Masud and AlamChapter – 2, 3, 5| Lecture6 – 12 | Assessment of Individual:Income tax authority, types of income tax authority, Tax assessment and collection procedures, different heads of income, Income from salary, securities, house property income.
income from agriculture, Income from business and professions. | Shil, Masud and AlamChapter – 6 to 10, 18A| MID TERM EXAMINATION | Lecture13 – 16 | Assessment of Individual:Income from capital gain, income from other sources, Various investment benefits and tax exemptions. | Shil, Masud and AlamChapter – 11, 12 & 18A| Lecture17| Return of Income:Procedure relating to filing of return, provisions relating to filing of return of income, submission of certificate in place of return, notices for production of documents, etc.
| Shil, Masud and AlamChapter – 17| Lecture20| Penalty and Appeal:Provisions relating to failure to comply with applicable laws and regulations and appeal procedure. | Shil, Masud and AlamChapter – 19| Lecture21 – 22 | Value Added Tax:Historical perspective of VAT, Tax base of VAT in Bangladesh, important features of VAT in Bangladesh, goods and services subject to VAT in Bangladesh, boos of accounts under VAT Act and Rules.
| Shil, Masud and AlamChapter – 21| Lecture23-24| Customs & Gift Tax:An overview of customs and gift tax of Bangladesh| Shil, Masud and AlamChapter – 22 & 23| FINAL EXAMINATION | Note: The above course outline is tentative. The instructor reserves the right to make any changes if deem necessary and will be announced accordingly. Prepared By: Faculty: (Part-Time) Md. Abdul Mannan Assistant Professor Department of Accounting & Information Systems Jagannath University, Dhaka-11000.