The Taxation System Between Australia And Bangladesh And Discuss Which System Is More Effective

3555 WordsNov 19, 201515 Pages
Question Compare and contrast the taxation system between Australia and Bangladesh and discuss which system is more effective. The essay should also focus on the effectiveness of double taxation treaties of these two jurisdictions. [Introduction] The authority to collect tax is differ from one country to another and their jurisdictions and form of function are also distinguishable. In Australia, the duty to collect revenue lays to the Australian Taxation Office (ATO) along with other responsibility. The role of ATO is to organise and form the tax and the system of superannuation. There are few more rules that have to practice by ATO which includes executing the goods and services tax (GST) as an agent of the Australian states and territories, operating some programs to ensure the transfer of revenue and benefit of that revenue is properly distributed to the whole community, administrating the superannuation system of Australia, managing and controlling of Australian business register. Nevertheless, the ATO derives from the public authority, Performance and Accountability Act 2013 but the accountability is imposed by the Public Service Act 1999. On the other hand, in Bangladesh, the tax administration is mainly practiced by National Board of Revenue (NBR) which was established under the President?s Order No 75 of 1972 and this board is working under the Internal Resources Division of the Ministry of Finance. This NBR is responsible not only for collecting tax but also for
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