A partnership firm is taxable for its income in first instance as a non-pass-through entity. The partners of the firm shall include the share of total income of the firm in the income year [to be computed u/s 43(3)] and but to avoid double taxation, the share of income will be treated as tax-free income subject to “tax rebate at average tax rate (ATR)” if the firm has already paid tax on its income. But where any tax payable by any partner of a firm in respect of his share of income cannot be recovered from him, then DCT (Deputy Commissioner of Taxes) shall collect it from the firm . In case of discontinued business of a firm or if the firm is dissolved, the partners are jointly and severally liable to pay due tax, if any. 本文来自优.文~论^文·网原文请找腾讯3249-114
A company is taxable for its total income always as a non-pass-through entity. The shareholders of the company are taxable for the income of the entity, only if distributed to them as dividend, which is subject to a source-tax. At the time of sale/transfer of shares, the shareholder may require to pay tax on capital gain arising from the sale or transfer. Thus, shareholder-level of tax(ts) usually includes tax on dividend distributed and tax on capital gain on sale/transfer of shares. However, capital gain on transfer of shares of a company established under the Companies Act 1994 is subject to a reduced rate of 10% [S.R.O. No. 220-Ain/Aykar/2004 dated 13.07.2004], but the capital gain on transfer of stocks and shares of public companies listed with a stock exchange in Bangladesh is fully exempted. vb+sql家庭理财系统论文+源码+文献综述
In case of a non-pass-through entity, there is at least double-level taxation. First, a tax is paid by the entity and then a second tax is paid by the owners of the entity (partners of a firm or shareholders of company). In case of firm which has duly paid its tax, double taxation is avoided by considering the share of firm’s income as tax-free and allowing a tax rebate thereon to the partners. But in case of a company, the company has to pay tax on its income at 30%, 40% or 45% and then the individual shareholders have to pay source-tax at 10%, which will be treated as advance income tax (AIT) and then considering the marginal tax rate of the concerned shareholders, tax rate on dividend may be up to 25% for high-income taxpayers. In case of a company investing in shares of another company, there will be triple taxation. The company of which shares have been purchased has to pay first-level tax on its income at 30%, 40% or 45%. Then the investing company has to pay second-level tax on distributed dividend at 15% and when it will distribute its income as dividend, its individual shareholder has to pay third-level tax (source-tax and possible extra tax).
3.Tax evasion,tax avoidance,and tax planning
Tax reduction strategies are often tainted with legality. Income tax statutes have provisions for charging tax on “any income, profits or gains, from whatever source derived” u/s 2(34)(a) and hence, according to the spirit of this provision, legality of the source may not be questioned if tax is duly paid. Suffice it to say, in the Income Tax Ordinance, there are several sections where investment out of undisclosed income can be legalized by paying tax at a stipulated rate not always on the invested amount and the tax rate is often very low [e.g., specific tax rate at Taka 300 or Taka 500 or Taka 200 per square meter for investment in house property u/s 19B, 7.5% of the deed value in case of investment u/s 19BB, and 10% or 15% of the purchase value in case of investment in motor vehicle]. Income by way of winnings from “card games and other games of any sort or from gambling or betting” referred to in section 19(13) is
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