Gift Tax in Bangladesh

There are two basic forms of taxation within the United States: progressive, where the effective tax rate increases as wealth or income increases, and regressive in which the effective tax rate goes up as wealth or income decreases.

If taxes are proportional, the tax rate remains constant for any income level, whereas taxes that are progressive, its tax rate gets higher as the income level increases.

Before even considering any particular numbers, define precisely what is meant when we say that a tax system is regressive. Do the same for what is meant by progressive.

rates of each political government. When a political government sets the tax rate it is recorded in

This are done through the design of appropriate strategies and programs to ease stakeholders’ compliance burden and bring about an efficient and improved tax delivery services to customers. TOG’s key functions include the assessment of persons, including companies and enterprises, liable to tax, as well as the assessments, collection, accounting and enforcing payment of taxes. These functions are carried out through the departments and functional units of the Group. The Compliance and Enforcement Group provides the FIRS with the platforms necessary to enhance voluntary compliance within the tax system. Its ultimate goal is to ensure that tax revenue collection is enhanced through the mobilization of the appropriate policy and legal frameworks. In order to achieve cohesion in the implementation of organizational goals, the various Groups and Departments involved in compliance and enforcement activities strive to build synergy in the performance of their duties. In appropriate cases, the Tax Operations Group refers cases of default of payment of tax to the Compliance and Enforcement Group to be handled by the Legal and Prosecution Department. The relevant organs of the service have carried out important activities towards enforcing taxpayer

Progressive. The more you save the more you earn. The proportional would not be fair because “flat” tax is not fair to people who do not have much money. The regressive in not fair either because you are losing

whether the tax strategy is sustainable under the tax law and therefore over whether the additional

1. What is a progressive tax system? How does it differ from a regressive tax system?

Income tax is considered to be one of the greatest ways that a country amasses wealth through known means from the public in order to use the funds for the benefit and welfare of the community. Since a very long time, there have been many discussions and debates on the way the finds collected for income tax have been spend. There are many who think that there is a lot of mismanagement and feel that the amount of the actual money spent on welfare of the community is far less that what gets collected by the country.

Should the flat tax rate system be implemented? No, the flat tax rate system should not be implemented. In this paper, the pro arguments will be presented, which will affirm the thesis. Then the con arguments will be presented. A rebuttal will then follow, and finally, the author’s conclusion will be offered.

In the article Tax reform =Growth, the author Rory Meakin (2012) suggests that Australia has a good tax system but it still has its problems. He compares the tax system between Britain and Australia as well, and discusses the importance for the government to change its approach of raising taxes to make it cheaper, fairer and more legitimate in Australia. The article outlines the complexities of the taxation system in the country, which resulted to the lost of its legitimacy since many people do not understand how much they should pay. It advises the need for the government to make the tax system to be as neutral as possible by eliminating complications that will add confusion to its approach. The journal name tax reform equals to growth and he totally agrees that raising the tax and keeping the tax neutral is the better way to face the tax problems nowadays.

| The federal income tax is a _______progressive______ tax because the higher the income a person has, the higher the percentage that person pays in tax.

All over the world, governments undertake huge public expenditure on behalf of their citizens for the provision of basic amenities and other social services. To meet up with these responsibilities, governments thus require substantial amount of funds. Among the various sources from which can generate income, taxes are the most important and most reliable; contributing much more than any other source. A tax therefore, is a compulsory levy imposed by the government on the income, profit or wealth of an individual, family, community, Taxation is the inherent power of the state, exercised through the legislature, to impose financial burdens upon subject within its jurisdiction for the purpose of raising revenues to carry out the legitimate duties of government (Kenned & John, 2014)

Flat tax, the tax is the same for all income levels. Regressive, the tax rate is the same regardless of income level, proportion of the income that goes towards taxes decreases as you earn more income. Progressive as your income increases so does the percentage of taxes you pay.

I’ve summed up the introduction of Taxation to these slight words. Taxation is defined as a way that the government able to generate or collect revenue from the citizen of one’s nation through different sources. As what I’ve learned from Taxation course that there are two types of taxation, direct which are paid by the taxpayer directly to the government, and indirect which are collected by an intermediary (like a retail store) from the consumer. The intermediary who will file the tax return later and forward the amount of the money to the government with the return. This tax is applicable to organizations and individuals. In this reflection, I would like to highlight what I learned of business and individual taxation, the experience on working with a group for the project and what challenges I faced and how I was able to get past.