Course Outline ACN 4135 Taxation Fall 2011 Sec. B

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School of Business

House 80, Road 8/A, Dhanmondi, Dhaka-1209 Trimester: 113 (Fall 2011)

COURSE OUTLINE [Section B]

Course Title : Taxation (ACN 4135)

Instructor : Prof. Dr. Swapan Kumar Bala, FCMA

Room # 518

Cell Phone: 01714377811

E-mail: [email protected]

Class Hour : 12:10 PM - 01:40 PM on Sunday and Tuesday at Room # 314

Office Hour : 01:45 AM - 03:15 AM on Monday and Wednesday at Room # 518

This Course intends to provide the students a clear idea about the taxation principles and the taxes that affect business entities in Bangladesh.

Class Schedule:Session Topic on Taxation

# 1-2 Taxation: An Introduction

Public Finance and Tax as a Source of Public Revenue, Other Sources of Public Revenue vs.

Taxation, Public Finance vs. Private Finance, Importance of Public Finance, Definition of

Tax, Characteristics of Tax, Objectives of taxation, Principles of taxation, Characteristics of a

Good Tax

# 3-4 Incidence of Taxes

Impact, Incidence and Effect of a Tax–Shifting of Tax Incidence–Demand and Supply Theory

of Tax Shifting – Additional Factors Influencing Tax Shifting – General Effects of Taxation# 5-6 Classification and Choice of Taxes

Classification Taxes (on the basis of: Number of taxes, Impact and incidence of taxes,

Structure of tax-rates, Subject-matter of taxes, Elasticity of taxes, Classification of tax-bases,

Increase or decrease in public revenue, and Collector of taxes); Choice of Taxes between

Proportional and Progressive taxes, Choice of Taxes between Direct and Indirect taxes; Tax

Structure in Bangladesh

# 7 Business Taxation: An Introduction

Business Enterprises as a Taxpayer (Sole-proprietorship, Partnership, and Company), Pass-

Through vs. Non-Pass-Through Entities, Legal Taxpayer vs. Real Taxpayer

# 8

Direct Taxation

A. Income Taxation

Assessment Cycle under Income Tax – Obligations under Income Tax Laws – Tax-base,

Tax period, Tax rates and Taxpayers – Status and Residence

# 9 First Mid Term Test

# 10-15

Direct Taxation …………. Cont’d

A. Income Taxation ……………. Cont’d

Non-assessable income – Investment tax credit – Tax rebate on tax-free income – Tax

relief – Carry-forward and Set-off of Losses – Tax holiday – Accelerated depreciation –

Income Tax Assessment for Business Entities (Sole-proprietorship, Partnership, and

Company): Computation of Total Income (Salary income, Interest on securities, Income

from house property, Agricultural income – Income Tax Rates and Determination of

Income Tax Liability

# 16 Submission of Assignment-1Second Mid Term Test

Course Objective:

1



Session Topic on Taxation

# 17-19

Direct Taxation …………. Cont’d

A. Income Taxation ……………. Cont’d

Income from business or profession, Share of income from partnership firm, Income of

spouse or minor child, Capital gains, Income from other sources, Foreign income),

Assessment of Business Entities.

# 20-21

B. Property Taxation

Property-related Tax under Income Tax Laws

Gift Tax: Charge of Gift Tax – Taxable Gifts – Exemptions from Gift-tax –

Determination of the value of Gifts – Return of gifts – Gift – Tax payable – Penalty

– Prosecution – Assessment procedures – Rates – Authorities

Submission of Assignment-2

# 22-23 Indirect Taxation

A. Border Taxation

Objectives of Customs Act – Customs Procedure – Statutory Definitions of Important

Terms – Duties under the Customs Act 1969 [General Customs Duty (import/export

duty), Regulatory Duty, Countervailing Duty, Anti-dumping Duty, and Safeguard Duty]

– Rates of Duties–Duties and Taxes Collected by Customs Authority at Import Stage[Customs Duty (CD), Supplementary Duty (SD), Value Added Tax (VAT), Advance

Income Tax (AIT) and Advance Trade VAT (ATV)]– Computation of Duties and Taxes

at Import Stage – Duty Drawback

B. Excise Taxation

Excise duty, Objectives, Current coverage of excise taxation

# 24-25 C. Value Added Tax (VAT)

Concepts, Advantages and Disadvantages, Arguments for and against VAT,

Computation of VAT, Coverage, Tax rates and Tax points of VAT in Bangladesh;

Taxes under the VAT Act in Bangladesh; Obligation of taxpayers under the VAT laws–

Registration, Enlistment for Turnover Tax or Enlistment for Cottage Industry–Payment

of VAT–Submission of Return–Maintenance of Books of Accounts and Records–VAT

Audit–Offence and Penalties–Confiscation–Appeals and Revisions–Recovery of claim–

VAT Refund.

# 26 Presentation & Review of Classes

References:H. L. Bhatia, Public Finance (New Delhi: Vikas Publishing House Pvt. Ltd.).

Richard A. Musgrave and Peggy B. Musgrave, Public Finance in Theory and Practice (New York:

McGraw-Hill Book Company).

The Income Tax Ordinance 1984 and the Income Tax Rules 1984 (updated).

The Customs Act 1969. The Value Added Tax Act and Rules 1991.

The Excise and Salt Act 1944. The Gift-tax Act 1990. The Finance Acts.

Summary of Taxation Rules in Bangladesh (MCCI, Dhaka). Nikhil Chandra Shil, M. Zakaria Masud and M. Faridul Alam, Bangladesh Income Tax: Theory and

Practice (Dhaka: Shams Publications; Latest edition).

Individual Assignments: [5 to 10 pages]

Assignment-1: Fiscal Environment of Stock Market in Bangladesh

Assignment-2: Corporate Taxation in Bangladesh

Assessment Plan:Assessment Events Weight

Attendance 5%

Class Tests* 25%

Mid-Term Tests (20% + 20%) 40%Final Exam 30%

Total 100%

2



* Class tests include quizzes, assignments, class participation, term paper, presentation, etc.

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Course Outline ACN 4135 Taxation Fall 2011 Sec. B

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