Changes in Income Tax Law, Rules and Procedures through the Finance Act, 2015 training centre in Bangladesh

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Changes in Income Tax Law, Rules and Procedures through the Finance Act, 2015

Introduction

Many amendments are made in the Income Tax Ordinance, 1984 through the Finance Act, 2015. Some new rules are also made by the Statutory Regulatory Orders (SRO’s). In the meantime the National Board of Revenue has issued some Circulars. All these are very much important for the taxpayers, tax advisors/consultants, Accountants, Tax Officials/Managers and for businessmen also. Otherwise it will be very much difficult for the submission of the Income Tax Return for the Assessment Year 2015-16 properly. They will not be able to make proper tax planning without sufficient knowledge on such amendments. This workshop will certainly make you update regarding all the recent amendments made in the Income Tax Ordinance, 1984 and in the Income Tax Rules, 1984.

Methodology

Interactive lecture, PowerPoint Presentation, Group discussion, Question and answer session.

Contents of Training:

Changes in-
• Individual Tax Rates
• Calculation of salaries income
• Minimum tax
• Turnover Tax
• Surcharge
• Income tax rate: Cigarette manufacturer (Individual and firms)
• Personal Income Tax: Investment tax rebate (no change)
• Corporate Tax Rates
• Corporate Tax: Rebate on declaring dividend
• Corporate Tax: Minimum Tax
• Corporate Tax: Co-operative society
• Uniform income year (change in definition)
• Additional tax for unapproved employment of foreign citizens
• Punishment for unapproved employment of foreign citizens
• Unexplained investments etc. deemed to be income
• Investments of unexplained income in building and apartment
• Changes in allowable deductions from business income
• Set off of losses against cigarette manufacturing business
• Tax holiday – new industry
• tax deduction and collection at source
• Deduction from payments by real estate developer to land owner
• Deduction from income of non-residents
• Scrutiny assessment process u/s 82BB (new)
• final discharge of tax liability (Section 82C)
• Transfer pricing – report from an accountant
• Transfer pricing – new penalty provision
• Imposition of penalty for failure to file return
• Flexibility of 80% tax payment to avoid penalty taken away
• New provisions for imposition of penalty and punishment
• Requirement of certificate or acknowledgement receipt containing e-TIN
• Depreciation rate – Third Schedule
• Exclusion from total income – Change in Sixth Schedule (Part A)
• Exclusion from total income – Addition to Sixth Schedule (Part A)

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Arrangement for Certificate, lunch and two tea-break would be made by the Organizer during the workshop.