The Movie Antz Compared To Real World Political Systems

In the movie Antz, the colony's government was set up with the Queen as the supreme ruler over the entire colony. All decisions for life in the colony were made by the Queen. All ants were required to work together for the greater good of the colony. Ants were not allowed free thought or to be individuals and make choices for themselves. The Queen's daughter, Princess Balla, was to take over the Queen's position and rule the colony simply because she was the Queen's daughter. She inherited this right.There were three social classes of ants that were determined at birth, Royalty, Soldiers and Workers. They remained in that class their entire life and are not allowed to mix between the classes or change. Each of the classes entitled ants to different rights and styles of living, with Royalty being the top citizens and workers the bottom citizens. Within each of the classes, all ants were equal and expected to follow the rules of the colony. There was a General appointed by the Queen th at ruled over the soldiers. The purpose of the army was to protect the colony.The Queen ruled the Ant Colony in all of the ways of a Monarchy. The right to rule the Colony is inherited at birth. In this case, the Queen, is the supreme ruler of the Colony. The Queen has all of the wealth of the colony and determines how it is divided among the colony. As in a Monarchy, the Queen will rule the Colony for her entire life and then control will be inherited by her family. The Queen makes all final decisions for the Colony. She also rules with with the idea to â€Å"work together for the greater good of the Colony†.The Colony Government also resembles a Communist government because they were not allowed any free thought or choice. All of the ants carried out life like programmed robots. This was true under both the Queen and General Mandible. However, her goals were for the greater good of the colony as a whole which is more like a Monarchy. General Mandible's goals were self servi ng which is like a Dictatorship. General Mandible lead the soldiers with an iron fist. His leadership style was very much like that of a Dictatorship.A dictatorship does not allow any freedom or individual thought to the people. Many of General Mandible's traits were the same as Adolph Hitler's dictatorship way of ruling. General Mandible felt the way to total control was to â€Å"cleanse the colony† and make a new â€Å"pure colony† according to his ideas of the perfect class of people. Hitler had the same goal. To achieve this they needed complete and total control of everything. They did not allow anyone to question their directions, not even their second in command. To do so would mean death in a dictatorship.General Mandible stated â€Å"do as I say or suffer execution†. Both General Mandible and Hitler had commanders under them that were required to enforce and carry out their orders. They were both planning to use genocide to get rid of the classes of peo ple they felt were inferior to themselves. General Mandible's dream was for â€Å"the strong to rise above the weak and wash away the past for a new day to dawn†. He wanted to build a colony with none of the â€Å"worker filth†. Even though General Mandible told the soldiers it was bad to act as an individual, that is exactly how he behaved.Under General Mandible's rule there would be no private ownership of property and he would determine how the wealth was to be divided which is another trait of a Dictatorship. Insectopia is an example of Anarchy because there are no leaders, no rules and no government. Each individual does whatever they want all of the time. The goal is peace and harmony. Although there is the ultimate freedoms with Anarchy, the system can quickly become chaotic due to the lack of any government authority if any one group tries to control another.Z wants to experience all there is to life and not be told what to do and how to do it. He sees Insectop ia as the perfect place to live because of the total freedom. The changes that occurred at the end of the movie with the General being defeated and royalty, soldiers and workers coming together reminded me of the changes that occurred in the USSR with the fall of the controlling government and the beginning of a democracy. The new Colony recognized the good that can come from individual freedoms and choices that are allowed in a democracy.The Colony came together as one whole and chose their new leaders the way an election happens in a democracy. These leaders would work with the Colony to carry out the wishes of the majority of the Colony with no one class being better than another. The individuals would now be free to make their decisions of daily living based on what they wanted. There were still some basic rules that would need to be in place to assure no one group got too powerful and tried to take over control. This is how democracy works in the USA with the people electing th eir leaders based on the majority wishes for a representative democracy. The Movie Antz Compared To Real World Political Systems In the movie Antz, the colony's government was set up with the Queen as the supreme ruler over the entire colony. All decisions for life in the colony were made by the Queen. All ants were required to work together for the greater good of the colony. Ants were not allowed free thought or to be individuals and make choices for themselves. The Queen's daughter, Princess Balla, was to take over the Queen's position and rule the colony simply because she was the Queen's daughter. She inherited this right. There were three social classes of ants that were determined at birth, Royalty, Soldiers and Workers.They remained in that class their entire life and are not allowed to mix between the classes or change. Each of the classes entitled ants to different rights and styles of living, with Royalty being the top citizens and workers the bottom citizens. Within each of the classes, all ants were equal and expected to follow the rules of the colony. There was a General appointed by the Queen th at ruled over the soldiers. The purpose of the army was to protect the colony.The Queen ruled the Ant Colony in all of the ways of a Monarchy. The right to rule the Colony is inherited at birth. In this case, the Queen, is the supreme ruler of the Colony. The Queen has all of the wealth of the colony and determines how it is divided among the colony. As in a Monarchy, the Queen will rule the Colony for her entire life and then control will be inherited by her family. The Queen makes all final decisions for the Colony. She also rules with with the idea to â€Å"work together for the greater good of the Colony†.The Colony Government also resembles a Communist government because they were not allowed any free thought or choice. All of the ants carried out life like programmed robots. This was true under both the Queen and General Mandible. However, her goals were for the greater good of the colony as a whole which is more like a Monarchy. General Mandible's goals were self servi ng which is like a Dictatorship.General Mandible lead the soldiers with an iron fist. His leadership style  was very much like that of a Dictatorship. A dictatorship does not allow any freedom or individual thought to the people. Many of General Mandible's traits were the same as Adolph Hitler's dictatorship way of ruling. General Mandible felt the way to total control was to â€Å"cleanse the colony† and make a new â€Å"pure colony† according to his ideas of the perfect class of people. Hitler had the same goal. To achieve this they needed complete and total control of everything.They did not allow anyone to question their directions, not even their second in command. To do so would mean death in a dictatorship. General Mandible stated â€Å"do as I say or suffer execution†. Both General Mandible and Hitler had commanders under them that were required to enforce and carry out their orders. They were both planning to use genocide to get rid of the classes of people they felt were inferior to themselves. General Mandible's dream was for â€Å"the strong to rise above the weak and wash away the past for a new day to dawn†.He wanted to build a colony with none of the â€Å"worker filth†. Even though General Mandible told the soldiers it was bad to act as an individual, that is exactly how he behaved. Under General Mandible's rule there would be no private ownership of property and he would determine how the wealth was to be divided which is another trait of a Dictatorship.Insectopia is an example of Anarchy because there are no leaders, no rules and no government. Each individual does whatever they want all of the time. The goal is peace and harmony. Although there is the ultimate freedoms with Anarchy, the system can quickly become chaotic due to the lack of any government authority if any one group tries to control another. Z wants to experience all there is to life and not be told what to do and how to do it. He sees Insec topia as the perfect place to live because of the total freedom.The changes that occurred at the end of the movie with the General being defeated and royalty, soldiers and workers coming together reminded me of the changes that occurred in the USSR with the fall of the controlling government and the beginning of a democracy. The new Colony recognized the good that can come from individual freedoms and choices that are allowed in a democracy.The Colony came together as one whole and chose their new leaders the way an election happens in a democracy. These leaders would work with the Colony to carry out the wishes of the majority of the Colony with no one class being better than another. The individuals would now be free to make their decisions of daily living based on what they wanted. There were still some basic rules that would need to be in place to assure no one group got too powerful and tried to take over control. This is how democracy works in the USA with the people electing their leaders based on the majority wishes for a representative democracy.

China and Usa: a Comparison of Their Monetary Policies

University of International Business and Economics China and USA: A comparison of their Monetary Policies. Mid-term Project School of International Trade and Economics BY Rebecca Bogiri Professor: LIN GUIJIN Beijing, China 2 December 2009 China and USA: A comparison of their Monetary Policies. By: Rebecca Bogiri December 2009 Abstract The monetary policies of USA and China is analyzed here from the perspective of their implementing bodies, their choice of instruments, and their means of setting their interest rates. The analysis reveals that there are immense differences between the two countries resulting from the nature and degree of influence from their respective domestic political systems. The paper concludes that China has a complex political economy that represents a hybrid of private ownership and state control. Therefore unlike the USA, its monetary policies are subject to political influence. Keywords: Monetary policy; Monetary policy instruments; Balance Sheet; China; USA Author’s email: becky. [email  protected] com ContentsPage Abstract †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 1 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 USA Monetary Policy †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 China Monetary Policy †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 Comparison of China and USA’s monetary policies †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 Conclusion †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦. 10 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 11 1. Introduction Monetary Policy is the process by which the government, central bank, or monetary authority of a country controls (1) the supply of money, (2) the availability of money, and (3) the interest rate, in order to attain a set of objectives oriented towards the growth and stability of the economy. This paper refers the above theme to two countries: China and USA. As such, there are three broad objectives. The first is to discuss monetary policy generally as carried out in the USA. The second is to discuss monetary policy generally as it is carried out in China. The third is to compare and analyze the way monetary policy is implemented in the two countries. 2. USA Monetary Policy How is the Federal Reserve structured? The Federal Reserve System (called the Fed, for short) is the nation's central bank. It was established by the Federal Reserve Act[1] and consists of the Board of Governors in Washington, D. C. , and twelve Federal Reserve District Banks. The Congress structured the Fed to be independent within the government. Therefore although the Fed is accountable to the Congress and its goals are set by law, its conduct of monetary policy is insulated from day-to-day political pressures. This reflects the conviction that the people who control the country's money supply should be independent of the people who frame the government's spending decisions. What makes the Fed independent? Three structural features give the Fed independence in its conduct of monetary policy: the appointment procedure for Governors, the appointment procedure for Reserve Bank Presidents, and funding. Appointment procedure for Governors:  The seven Governors on the Federal Reserve Board are appointed by the President of the United States and confirmed by the Senate. Independence derives from a couple of factors: first, the appointments are staggered to reduce the chance that a single U. S. President could â€Å"load† the Board with appointees; second, their terms of office are 14 years–much longer than elected officials' terms. Appointment procedure for Reserve Bank Presidents: Each Reserve Bank President is appointed to a five-year term by that Bank's Board of Directors, subject to final approval by the Board of Governors. This procedure adds to independence because the Directors of each Reserve Bank are not chosen by politicians but are selected to provide a cross-section of interests within the region, including those of depository institutions, nonfinancial businesses, labor, and the public. Funding:  The Fed is structured to be self-sufficient in the sense that it meets its operating expenses primarily from the interest earnings on its portfolio of securities. Therefore, it is independent of Congressional decisions about appropriations. How is the Fed â€Å"independent within the government†? Even though the Fed is independent of Congressional appropriations and administrative control, it is ultimately accountable to Congress and comes under government audit and review. Fed officials report regularly to the Congress on monetary policy, regulatory policy, and a variety of other issues, and they meet with senior Administration officials to discuss the Federal Reserve's and the federal government's economic programs. The Fed also reports to Congress on its finances. Who makes monetary policy? The Fed's FOMC (Federal Open Market Committee) has primary responsibility for conducting monetary policy. The FOMC meets in Washington eight times a year and has twelve members: the seven members of the Board of Governors, the President of the Federal Reserve Bank of New York, and four of the other Reserve Bank Presidents, who serve in rotation. The remaining Reserve Bank Presidents contribute to the Committee's discussions and deliberations. In addition, the Directors of each Reserve Bank contribute to monetary policy by making recommendations about the appropriate discount rate, which are subject to final approval by the Governors. Objective of Monetary policy Monetary policy has two basic goals: to promote â€Å"maximum† sustainable output and employment and to promote â€Å"stable† prices. These goals are prescribed in a 1977 amendment to the Federal Reserve Act. In the long run, the amount of goods and services the economy produces (output) and the number of jobs it generates (employment) both depend on factors other than monetary policy. These factors include technology and people's preferences for saving, risk, and work effort. So, maximum sustainable output and employment mean the levels consistent with these factors in the long run. But the economy goes through business cycles in which output and employment are above or below their long-run levels. Even though monetary policy can't affect either output or employment in the long run, it can affect them in the short run. For example, when demand weakens and there's a recession, the Fed can stimulate the economy temporarily and help push it back toward its long-run level of output by lowering interest rates. That's why stabilizing the economy, or smoothing out the peaks and valleys in output and employment around their long-run growth paths—is a key short-run objective for the Fed and many other central banks. USA Federal Reserve – Balance Sheet |ASSETS |LIABILITIES |Gold and Foreign Exchange |Currency | | |Held by public | | |Vault cash | |Federal Reserve Credit |Bank Deposits | |Loans & Discounts | | |Government Securities | | |Other credits | | Source: Federal Reserve Bulletin, May 1996. Monetary policy instruments The Federal Reserve has three instruments for controlling the money supply. They are: 1. Open Market Operations 2. The discount rate; and 3. The required reserve ratio. When using Open market operations, the Fed buys or sells government securities to affect the leve l of the money supply. For example, if the Fed wishes to increase the money supply by $2 million, it will purchase government securities worth $ 2 million. The Fed’s assets increase by $ 2 million under the securities heading. In order to pay for the government security, the Fed writes a check on itself. In return for the bond, the seller receives a check instructing the Fed to pay the seller $ 2 million. The seller then takes the check to his bank, which credits the depositor with $ 2 million, and then deposits the check at the Fed. The bank has an account with the Fed, which is now credited with $ 2 million. Thus the Fed’s liabilities increase by $ 2 million under the heading of bank deposits, as the commercial bank has just increased its reserves by $ 2 million which are held by the first instance as a deposit at the Fed. Another monetary policy instrument used to affect the level of the money supply is the Discount rate, which is the interest rate charged by the Fed to banks that borrow from it to temporary needs for reserves. Increasing the discount rate discourages banks from borrowing from the Fed, while lowering the rate encourages banks to borrow from the Fed and thus increase the money supply. The required reserve ratio refers to the percentage of total deposits that the Fed requires individual financial intermediaries to keep at the Fed as reserves. The significance of the required reserve ratio is that it affects the money multiplier, and thus the level of the money supply. For example, if the Fed wants to increase the money supply, it can do so by reducing the required reserve ratio. Because there are now less reserves and more money is available for the banks to be able to meet their customer’s demand for cash. This increases the money multiplier, which also has a positive effect on the level of the money supply. Required reserves do not pay any interest, so increases in the required reserve ration has undesirable side effects on bank profits. Open market operations are nearly always the favored tool of choice by the Fed. The Fed Open Market Operations in 2008 summarizes all monetary policies and tools used by the Fed for that year. The two tables below shows the changes in the federal funds target rate, and the primary credit rate, and the interest paid on the required reserves and excess reserve balance.. These were operational measures taken by the Fed to influence the Federal funds rate. It is evident that the Fed rapidly and continually decreased the federal funds rate and the primary credit rate throughout 2008. Furthermore, on October 8th 2008 the Fed started to pay interest on despository institutions’ required and excess reserves balances as authorized to under the Financial Services Regulatory Relief Act[2]. [pic] [pic] 3. China Monetary Policy Body in charge of Monetary Policy: Monetary policy in China is conducted by the People’s Bank of China. Article 12 of the Law of the People? s Republic of  China  on the People? s Bank of China provides † the People? s Bank of China is to establish a monetary policy committee, whose responsibilities, composition and working procedures shall be prescribed by the State Council and shall be filed to the Standing Committee of the National People? s Congress. The Monetary Policy Committee shall play an important role in macroeconomic management and in the making and adjustment of monetary policy. â€Å" Rules on Monetary Policy Committee of the People? s Bank of China stipulates that the Monetary Policy Committee is a consultative body for the making of monetary policy by the PBC, whose responsibility is to advise on the formulation and adjustment of monetary policy and policy targets for a certain period, application of monetary policy instrument, major monetary policy measures and the coordination between monetary policy and other macroeconomic policies. The Committee plays its advisory role on the basis of comprehensive research on macroeconomic situations and the macro targets set by the government. The Monetary Policy Committee is composed of the PBC? Governor and two Deputy Governors, a Deputy Secretary-General of the State Council, a Vice Minister of the State Development and Reform Commission, a Vice Finance Minister, the Administrator of the State Administration of Foreign Exchange, the Chairman of China Banking Regulatory Commission, the Chairman of China Securities Regula tory Commission, the Chairman of China Insurance Regulatory Commission, the Commissioner of National Bureau of Statistics, the President of the China Association of Banks and an expert from the academia. The Monetary Policy Committee performs its functions through its regular quarterly meeting. An ad hoc meeting may be held if it is proposed by the Chairman or endorsed by more than one-third of the members of the Monetary Policy Committee. Objective of Monetary policy: The main objective of the Chinese monetary policy is to maintain the stability of the value of the currency (the Renminbi), and thereby to promote economic growth. People’s Bank of China – Balance Sheet ASSETS |LIABILITIES | |Credits to FI |Deposits of FI | | |Central Bank Reserves | | |Excess Reserves | |Foreign Exchange Reserves |Central Bank Bills | |Securities |Deposits of Treasury | | |Currency in Circulation | Source: AE502 Macroeconomic Analysis Monetary Policy Instruments The People’s Bank of China in conducting Monetary policy has several instruments at its disposal which include: 1. The reserve requirement ratio 2. The Central Bank base interest rate 3. Rediscounting 4. Central Bank Lending 5. Open Market Operations 6. Other policy instruments as specified by the State Council In essence, the monetary instruments listed above correspond to the descriptions given under the Fed’s monetary policy heading. However, the main tool of choice for the PBC is the reserve requirement ratio. For example, in the PBC 2008 Annual Report on Monetary Policy it was reported that in order to sterilize excess liquidity in the first half of 2008, the reserve requirement ratio was decreased cumulatively by 3 percentage points on 5 occasions. Furthermore, a lower required reserve ratio was applied to rural credit cooperatives (RCCs) and financial institutions in the quake-hit areas. Furthermore, in the second half of 2008 with the heightened international turmoil and in order to ensure ample liquidity in the banking system, the PBC further reduced the required reserve ration of financial institutions on another four occasions resulting in a cumulative decrease of 2 percentage points for large financial institutions, and a cumulative decrease of 4 percentage points for smaller financial institutions. According to PBC calculations, by the end of 2008 a total of 800 billion yuan of liquidity was released into the economy. The choice of the reserve requirement ratio as the mail policy instrument is not coincidental to China which runs a high current account surplus. There is a large and growing demand for the RMB, and to maintain the RMB at the desired level the PBC issues RMB to meet this demand thereby increasing the money circulating in China. To keep inflation and economic growth under control, the PBC sterilizes its foreign exchange market interventions by buying back some of the RMB it issued to buy US dollar. In particular, it does so by selling low yield government securities to state-owned banks. So far, the banks have been able to absorb those low yield bonds in part because the interest rates paid on them bank deposits are also maintained at artificially low rates. Nonetheless, the increases in foreign reserves are not fully neutralized. Over the last five years broad money supply in China has been growing at above 15% per annum while real economic growth has averaged about 10. 5%. [3] Furthermore unlike more developed market economies, China is reluctant to raise domestic interest rates to slow its domestic growth. Doing so might mean attracting more capital inflows, which would in turn, require further money issuance to stabilize the exchange rate. That is precisely why the PBC instead changes the reserve requirement ratio on an ongoing basis to control the expansion of money and credit. 4. Comparison of China and USA’s monetary policies There are three main differences between China and the United States where monetary policy is concerned: independence of the monetary policy implementing body, choice of instruments to use in implementing monetary policy, and direct or indirect means of setting interest rates to effect monetary policy. Furthermore, these three differences are inter-related and country specific. The first major difference between the Federal Reserve System (the Fed) and the People’s Bank of China (PBC) concerns their independence from national politics. The intention of Congress when designing the Federal Reserve Act was to keep politics out of monetary politics. The Fed is totally independent of other branches and agencies of the government. Furthermore, it is self financed and therefore is not subject to the congressional budgetary process. On the other hand, the PBC is not independent from national politics in China. The PBC reports directly to the State Council which serves as China’s cabinet as well as its highest executive body. Moreover, monetary policy in China is aimed at limiting the appreciation of the renminbi (RMB), while eeping economic growth at a sustainable pace and inflation under control plus preserving a fragile banking system. The Fed in contrast implements a monetary policy that has a dual objective of maximum employment and price stabilit y. The second difference regards the choice of the monetary policy instruments used by the Fed as opposed to the PBC. The choice of instruments used in implementing monetary is essentially the same, except that the PBC has the an additional instrument; namely â€Å"additional instruments as specified by the State Council. † It is therefore no surprise that this ‘extra instrument’ arises from the lack of independence on the part of the PBC. The third difference between the Fed and the PBC lies in the way they set the interest rates. The Fed sets its federal funds rate indirectly by setting a specified target rate and then using the the tools of monetary policy (open market operations, discount window lending, and reserve requirements) to achieve that target rate. As a result, the changes in the federal fund rates trigger a chain of events that affect other short term interest rates, long term interest rates, the amount of money and credit in the economy, plus other macro-economic variables such as employment, growth and the prices of goods and services. In contrast, the PBC has a direct influence on its interest rate because of the extra instrument described above. Because there is provision for other policy instruments as specified by State Council, this allows the PBC to set interest rates directly, and thus have a direct impact on the its balance sheet. 5. Conclusion There are major differences in monetary policy and central banking in China and the USA. China has a complex political economy that represents a hybrid of private ownership and state control. Therefore, the PBC’s monetary policies, choice of instruments and methods of implementation are quite different from that of the Fed. Monetary policy in China aims at curbing the appreciation of the RMB while keeping economic growth at a sustainable pace, inflation under control, and preserving a fragile banking system. This is contrasted with the Fed’s monetary policy with the dual objective of maximum employment and price stability. Different monetary policy objectives, coupled with the degree of political independence on the part of the Fed and the PBC greatly influence the choice of instruments used and the method of implementing monetary policy in the two respective countries. 6. References Federal Reserve Bank of New York Domestic Open Market Operations During 2008 Federal Reserve Bank of New York: â€Å"Annual Report Domestic Open Market Operations during 2008† Federal Reserve Statistical Release 19 November 2009 Ian Sheldon, â€Å"US-China Trade Policy: Who gains from a rise in the Yuan? † at http://aede. osu. edu/programs/Anderson/trade Luc de Wulf and David Goldsbrough, â€Å"The Evolving Role of Monetary Policy in China†, IMF Staff Papers WP/04/125 Michael Moskow and Cathy Lemieux â€Å"China up close: Understanding the Chinese economy and financial system†, at www. chigacofed. org People’s Bank of China Monetary Policy Annual Report 2008 Peter Stella, â€Å"The Federal Reserve System Balance Sheet: What Happened and Why it matters† IMF Staff Papers WP/09/120 Financial Services Regulatory Relief Act 2006 (USA) Federal Reserve Act 1913 (USA) Law of the People’s Republic of China on the People’s Bank of China 1995 (China) http://www. frbsf. org/publications/federalreserve/monetary/structure. html http://www. pbc. gov. cn/english/huobizhengce/MPC. asp http://en. wikipedia. org/wiki/Monetary_policy ———————– [1] 1913 [2] 2006 [3] China close up (2008)

Private law Essay Example | Topics and Well Written Essays - 1000 words - 1

Private law - Essay Example union between Springer and the relatives made it possible for her to regain her health and continued to move together as a group in the waters (Henderson, 151-161). The issue raised in the story has raised the emotions of the readers. Luna the most loved whale dies in British Columbia waters. The orphaned whale had won the heart of many whale lovers around the world the globe. The appearance of the young killer whale at Nootka had attracted much attention from the media around the world. The whale enjoyed developing relationship with people and played with anything around it including the boats. The close relationship between the whale and the humans was, unfortunately, the cause of its death. The young Luna was killed had been killed by a boats propeller in 2006. Even though the occurrence saddened many people, a few individuals were relieved since the animal’s curious behavior had resulted in number problems that had not yet been resolved. Luna’s playfulness had destroyed many boats creating conflicts with the boat owners. The challenges were difficult to determine by fisheries officers (Henderson, 160-162). Groc was not success ful in avoiding emotional response. The writer tried to explain the issues that may have led to the whale being lonely. The writer continued to explain how the whale had struggled to develop a relationship with the human beings. It was desirable for the writer to produce an emotional response with an intention of keeping the reader on the track. The authors desire to look at the issues objectively and equitably were effectively achieved. She explains how the orphaned whale had developed friends and enemies in different measures. Despite the whale struggling to build a relationship with humans, she was killed by the same people that she used to play with. I totally agree that humans were responsible for the demise of the orphaned Luna, since the whale was discovered; it was always struggling to develop a relationship with persons, a

Role of Manager Essay Example | Topics and Well Written Essays - 1250 words

Role of Manager - Essay Example In the result, experts (Gootnick, pp. 36-40, 1999) are now carrying out studies to understand different aspects of various fields, and this paper is an attempt in the same series that will look into the relationship of individual differences, personality, and intelligence with the role and working of managers in organisations. In particular, analysis (Haslam, pp. 23-29, 2007) has indicated that experience is one of the most imperative components that enable individuals to involve in the process of learning that subsequently allows effective execution of any work or task. In addition, it is an understanding that experience is the key factor that resulted in alteration of abovementioned three notions under focus of this paper. In this regard, one can state that experience plays a crucial role in ensuring effective development of managers; however, experts (Fumham, pp. 56-60, 2008) have noted that experience as mixture of personality, individual differences, and intelligence is not the key notion but the more important thing is the reaction of the manager in response to the experience. In other words, experience does not give lesson but one has to get a lesson from experiences. It will be easier to understand this notion by considering an example. For instance, a manager confronts a situation of an unsatisfied employee in an organisation, and he responds by talking to him personally. On the other hand, another manager confronts the same situation but he decides to consider employee as an under-performing employee without any discussion. The experience or rather confrontation was same; however, responses were different that would have resulted in contradictory outcomes in that organisation. At this point, individual variability or individual differences play a critical role in supporting manager in effective management of the people (Haslam, pp. 46-60, 2007). However, when it comes to individual variability, experts have identified strong relationship of intelligen ce with individual differences and that intelligence plays a significant role in enabling effectiveness in the work. However, individuals often view intelligence from the traditional lens related to academic achievement. In the context of manager’s role, traditional intelligence does not but the practical intelligence ensures effectiveness in manager’s functions. In order to understand the role of intelligence in manager’s part, let the paper include an example. In particular, a traditionally intelligent person refers to the easy understanding of academic facts that is applicable in the example of a student; however, a practically intelligent person means easy understanding of tacit knowledge (Fumham, pp. 69-74, 2008) that works in situation of the manager. In the case of student, knowledge is declarative, whereas when it comes to manager, knowledge becomes procedural that is a student focuses on ‘knowing that’ while manager endeavors on ‘know ing how’ notion that explains how intelligence, particularly, practical intelligence supports manager in effective execution that is effective management of people at the workplace. In order to understand the difference further, academic knowledge refers to information that explains behavior, and on the other hand, tacit knowledge means information that guides or initiates behavior. Further analysis of literature (Hosie, pp. 20-33, 2006) has indicated that there exist certain characteristics that facilitate managers in carrying out their works in terms of managing people, and that simultaneously involves self-development of the managers. In particular, tacit knowledge and experience were once again major

Marilyn Monroe by Barbara Leaming Essay Example | Topics and Well Written Essays - 750 words

Marilyn Monroe by Barbara Leaming - Essay Example In some ways the book tells a story that is very familiar. Thus Marilyn Monroe is portrayed as an abused, confused girl from an orphanage with an insane mother who lives in an asylum. By a remarkable mixture of luck, co-incidence and the personal magnetism that the young girl possessed Marilyn Monroe rises to become the most successful movie star of her time. Subsequently she falls and eventually dies, the victim of drug abuse, self-hatred and a destructive life-style that left her few options. Beyond this familiar characterization, Leaming suggests that Marilyn Monroe was in fact far more in control of her life than most biographers have given her due. Thus her rise to fame and subsequent crash to probably suicide was more within Monroe's own hands than people appreciated at the time or have seen ever since. Leaming suggests that Monroe was in fact highly ambitious and knew how to construct an apparently irresistible persona that would both fascinate and intrigue the public. From her rendition of "Happy Birthday" for President John F Kennedy to her attempts at choosing exactly the right movie at the right time and even to her somewhat bizarre choices of husbands including the cerebral playwright Arthur Miller, Leaming argues that Monroe was far more in control of her life than appeared from the outside. This control is especially seen in the long and complex negotiations with movie studies that are documented throughout the book. The fact that Monroe had a first-class business mind beyond the "dumb blonde" persona that she often portrayed has seldom been considered. It is, indeed, a fact about many Hollywood stars that is often ignored or downplayed. Leaming does not explore the apparent contradiction between this competitive, manipulative Monroe and the out-of-control drug addict who could not stand the natural process of aging and the loss of looks. This is a pity, as the two sides of Monroe sit uneasily besides one another without being really reconciled. Perhaps Leaming is suggesting that they cannot be explained: they merely exist. This portrayal of Marilyn Monroe sits somewhat uneasily with the overall pessimistic tone of the book as the star's life is seen as on a downward spiral from birth, despite the wealth and fame that she eventually achieved. If Monroe was in control of her life, she apparently sought to destroy herself within Leaming's portrayal. The final moments of her life are shown to be a mixture of accident and deliberation. According to Leaming, Marilyn Monroe may have taken her final overdose because her psychiatrist was going out to dinner and would not talk to her until the next day. Monroe felt abandoned and thus killed herself. To conclude, Leaming brings a new perspective and new material to one of the most studied and written about figures in American cultural history. She portrays the culture that Monroe lived within in a provocative manner, showing that the iconic playwright (and Monroe's one-time husband) was involved in a bizarre rivalry with every other male in her life. She shows that Monroe tried to control her life in a manner that has seldom been explored, but that this attempt was ultimately doomed because of an insane streak that Monroe probably inherited from her mother. Similar to many stars of her time, Marilyn Monroe was doomed to a relatively young, pathetic death through a drug overdose. But paradoxically, it was this death that assured her

An analysis of counselling and counselling skill as a therapeutic Essay - 1

An analysis of counselling and counselling skill as a therapeutic intervention in nursing an amputee patient - Essay Example Counselling skills involve the use of a range of specific skills by the counsellor to help the client. The core of counselling skills includes the skills of listening, reflecting and empathy (Corney, 1995.) There is no universally accepted single definition for counselling skills. Counselling skills differs from listening skills and counselling on the basis of the intentions of the user (Palmer & MacMahon, 1997). The intention is to enhance the performance of their functional role, as nurse, tutor, social worker etc., and in turn, the recipient will, perceive them in that functional role (Palmer & MacMahon, 1997) In other words, it can be said that a person using counselling skills is enhancing communication with someone without assuming a role as their counsellor (Palmer & MacMahon, 1997). The recipient perceives this as an action within a professional/caring role (Palmer S, MacMahon G, 1997) Not every one who uses counselling skills can be called a counsellor. A counsellor uses counselling skills as a distinct profession (Sutton & Stewart, 2002). Others might use counselling skills as part of their other skills. This might be only temporary (Sutton & Stewart, 2002.) There is a difference between counselling, advice, persuasion and undue influence. Advice involves telling a person what to do or not to do. Counselling involves telling a person what is possible, and not what to do (Sutton & Stewart, 2002.) Exerting undue influence or manipulation is done against a persons will, making the person feel uncomfortable or angry. Counselling on the other hand involves exploration of all the alternatives (Sutton & Stewart, 2002.) There is also a difference between counselling and other forms of helping. The primary difference is the way in which the counsellor actively listens. It also involves being aware of the client’s non-verbal communications, body posture, gestures etc. (Sutton & Stewart, 2002.) 1. Interpersonal skills-a competent

Government Corruptness in China Essay Example | Topics and Well Written Essays - 1250 words

Government Corruptness in China - Essay Example It is very hard to fight against corruption in the country with self-appointed leaders. Their work is performed by their advisors and thinkers. It is necessary to take Chinese leaders out of their thinking vacuum filled with Marxism into a global context. Another thinker George Zhibin Gu supposed that occurrence of corruption in Chinese government is possible and even predicted. Li was a cruel ruler, who forbade freedom of thoughts, reading some books, travelling and other insane communist methods (Glassman 1991, p. 32). From a social perspective, corruption in China may be referred to: â€Å"the low wages of civil servants, the many opportunities for corruption during the last two decades of Deng Xiaoping's modernization policy, and the lack of political will in implementing anticorruption measures against senior party officials† (Glassman 1991, p. 41). Unfortunately, no radical measures were taken to stop corruption in the country. The death penalty for bribery was not effec tive against senior party officials. Corruption in Communist China In 80s Chinese society considered bribery as "the most prevailing social crime" (Gu, 2010). A social turmoil caused by protests against corruption occurred in 1989 when students went to demonstration against it. Mass media in China has "dramatically increased the exposure of corruption cases to highlight the party's determination and efforts to repress corruptions" (Gong 1994, p. 54). Unfortunately, these actions were not effective and corruption remains one of the most negative phenomena in the Chinese society. Corruption is an unhealthy practice and there is a need to look for an efficient remedy for it. On the other hand, once political system of the country has started its work in a close coexistence with corruption, it means that it accepts it. Nevertheless, for Chinese society the Chinese Communist Party makes an attempt to purify its image and develops anticorruption strategies and rules. For example, it stren gthens a production control; forbids any presents at work for officials; disciplinary penalties are applied for public offenders (Wei-Ming, 1996). The cases of corruption were mishandled in 1987 when the Central Discipline Inspection Commission (CDIC) and the Ministry of Supervision (MOS) were reestablished to curb corruption and maladministration (Wei-Ming, 1996). This happened in 1982. But 1987 numerous complaints were accumulated by these institutions, but they could not be dealt with because of a lack of political will. The Chinese government has decided to subject corrupted officials to death penalty in case they accept brines exceeding 100,000 Yuan, or US$ 12,000 (Gu, 2010). Explanation of corruption Therefore, it is relevant to develop a complex approach for dealing with corruption in China. In accordance with Huntington's theory on corruption, this phenomenon is positioned as a lack of a proper "political institutionalization"(Wei-Ming, 1996). In case institutionalization is present to the fullest extent, political processes are stable and applied procedures are valuable. Moreover, the researcher suggests that a possible reason of corruption may be bureaucracy dependency on other social groupings and act in accordance with bureaucratic methods of behavior. It should be noted that corruption may be caused by an external influence of officials caused by their families and relatives, because the primary goal of officials is not to act in favor of the government, but to act in favor of their families. It is possible to take into account other factors causing corruption: an improper adaptation of the government to the changing environment; deregulation of social activities and economic practices of the country; excessive discretion

Compare various types of Realistic writing Essay

Compare various types of Realistic writing - Essay Example However, for Bret Harte, the American dream remains a remote reality, even though his writings revel in the West, especially, California. In ‘The Outcasts of Poker Flat’, the lines, ‘With him life was at best an uncertain game’ (Perkins and Perkins, 2007, p. 485) shows Harte’s belief that the American dream is unattainable.   For Red Cloud and Hopkins, the West was their home, so when the settlers began to invade, they felt that their settlement and their existence is threatened. Red Cloud’s speech to the Cooper Union in 1870 in New York shows his views: ‘All I want is right and justice’ (Perkins and Perkins, 2007, p.493). This is considered as the precursor of the demands of equality and justice for different American communities. A similar undertone is sensed in the writings of Sarah Hopkins, a prominent female Native American Activist who wrote, Life Among the Piutes: Their Wrongs and Claims’. In her narrative, the viol ent invasion by the Whites around 1840s, is vivid and emotive (Perkins and Perkins, 2007, p.495). For both Red Cloud and Hopkins, the West represents their own identity and this identify represents the American Dream. References Twain, M (1884) The Adventures of Huckleberry Finn. In Perkins, G, and Perkins, B, Eds. (2007).   The American Tradition in Literature, Volume II, 12th edition. (142-143) New York: McGraw-Hill Harte, B (1869). The Outcasts of Poker Flat.

Politics of the Free Soil Party Essay Example | Topics and Well Written Essays - 1250 words

Politics of the Free Soil Party - Essay Example Thus, the parties are in a position of changing the voting patterns in the country since they express the sentiments shared by a particular proportion of the country’s population. On the other hand, most of these third parties do not last for a long period of time since their agenda might be adopted or fail to stand the test of time. One such short-lived party is the Free Soil Party active in the 1848 and 1952 presidential elections of the United States.1 William Leggett, George Henry Evans, and Thomas Morris, part of the group known as â€Å"Dissident Democrats,† were instrumental in the party’s formation by contributing certain arguments crucial in shaping the party’s ideologies. This expose elucidates the role each man played in the formation of the party and effectively identifies the man who greatly influenced the formation of the party and the role he played. Since the formation of the Free Soil Party is synonymous with the Dissident Democrats, it is important to understand the origin of this group. Andrew Jackson is one of the greatest presidents in the history of this country. During his era, commonly referred as the Jacksonian era, Americans felt that there were equal economic opportunities to all citizens. However, prior to his 1837 farewell speech, the president expressed his dissatisfaction with the Bank of the United States saying that it was mainly for the rich people in the country and foreign governments instead of focusing on every citizen of the country.2 Towards the end of his career, support for the outgoing president was high and consequently too was support for his handpicked successor illustrating a scenario that Democrats were one united front. However, discontent simmered across a section of Democrats with some questions some policies by Jackson. Nevertheless, the most surprising disquiet was the loud objection of a few Democrats on the party’s position towards slavery.3 The discontent arose from the p arties policies meant to curtail debate on abolitionism effectively robbing the crusaders of antislavery and its expansion of the most fundamental freedom of expression. While a section of the Democratic leadership lauded the mobs attacking abolitionists in their meetings and in newspapers, general disquiet simmered and effectively solidified support to counter the expansion of slavery.4 In effect, the counter movement to expansion of slavery has been crucial to the history of this country since their efforts led to the current American society that accepts and appreciates diversity. Three antislavery Democrats who broke away from their party in the 1930s were crucial to the formation of the Free Party, a splinter party of the Democratic Party. In this regard, these dissidents provided lines of arguments towards which the party would galvanize its ideals and use them to defend its stance. Of all the Jacksonian politicians, William Leggett was the most eloquent in arguing coherently against the centralized authority embodied by the monopolies, the Money Power, and the fanatical reformers.5 In this case, Leggett focused on arguing against concentrated power that was against the concepts that guide natural law and liberty. Thus, Leggett became the champion and hero to the class of producers that was against capitalism. Effectively, he applied this same ideal in his support for abolitionism after undergoing some form of conversion from being a supporter of abolition, to a firm and committed

Aviation Safety Management Essay Example | Topics and Well Written Essays - 3500 words

Aviation Safety Management - Essay Example All the company's leadership, managers and other employees at all the levels are responsible for the implementation of the Aviation Safety Program and accident and incident prevention. The Director of Safety has the authority to: Participate in working out, reviewing and amending the Aviation Safety Program. Interview station safety managers in order to evaluate their qualification (in coordination with Human Resources Department). Collect and review all the safety aviation related information from all departments. Require the reporting of any aviation safety related accidents, incidents ore hazards. Conduct aviation safety audits of any operation or facilities. Represent Sky High Airline in all relations with government and other organizations concerning safety related matters. Call for the Aviation Safety Committee. Approve expenditures to implement the Aviation Safety Program. The Director of Safety has responsibly for: Working out, reviewing and amending the Aviation Safety Program Implementing the Aviation Safety Program. Maintaining an accident, incident and hazards reporting system. Preservation and distributing of all received open and confidential aviation safety related information. Conducting regular aviation safety audits and representing analyzed data. Working out and implementation of accident, incident and hazard prevention plan. Cultivation an open and effective communication between departments and personnel. Providing all-round support and assistance to all line managers. Submitting an annual budget to provide the Aviation Safety Program implementation. 4. REPORTING OF ACCIDENTS, INCIDENTS AND HAZARDS ACCIDENT is an occurrence associated with the operation of an aircraft, which takes place between...This document constitutes the Sky High Airlines Company Aviation Safety Program. The person is authorized and responsible for the implementation of company safety policy is a head of Safety Department, Director of Safety. The position of Director of Safety is a full time position as well as positions of Chief of Flight Safety Department and Chief of Ground Safety Department. The Chiefs of Flight Safety and Ground Safety are appointed to ensure the safety protection in the air and on the ground accordingly and share the responsibility with the Director of Safety. The Safety Department together with Flight Safety and Ground Safety will assign additional duty aviation safety specialists in order to work in close and effective cooperation. ACCIDENT is an occurrence associated with the operation of an aircraft, which takes place between the time any person boards the aircraft with the intention of flight and all such persons have disembarked, and in which any person suffers death or serious injury, or in which the aircraft receives substantial damage1.

Analyzing Pro forma Statements Essay Example for Free

Analyzing Pro forma Statements Essay This financial analysis will define an initiative of what to implement, that would increase sales over the next five years. It can either be, another market, product, or a corporate expansion. A pro forma will be created and used for the XYZ Manufacturing Company of a five year projections. Assumptions will be made to support each line item, to increase or decrease the forecasted statements. There will also be interpretation of the financials, in relation to the initiative. Recommendations are to made on the potential discretionary financing needs. This word analysis is the company’s short term and long term financing needs, and strategies to help the company manage their working capital (University of Phoenix, 2014). Pro forma statements are created by, forecasting and combining the income and balance into a financial statement format. This will determine how the account balances are forecasted by acquiring forces that will influence and project how the accounts will be influenced. These forces are recognizable as restrictive debt agreements, sales, and company policies The following illustrations below is the Pro forma’s process for a five-year projection. This information is based on historical data collected from the sample provide (UOPX, 2014)..There is acquired information of a increase in sales new product as the result of a new product introduction also an increase in the production capacity. The increase in sales will acquire fixed assets with the excess cash (Parrino, Kidwell, Bates, 2012) Pro forma Balance Sheet for XYZ Company, INC. Total Liabilities and Stockholders’ Equity-$559,608 $649,251 $848,766 $1,,037,172 $1,183,541 In the above balance sheet the current assets and current liabilities has increased in the ratio of sales (Parrino,Kidwell, Bates, 2012, p90,91. 92) There is also an additional increase in the fixed assets. The company to take out an additional loan to meet the capital expansion, and the working capital needs (Parrino, Kidwell, Bates, 2012) I would recommend that the company The first step in this pro forma financial statements is the forecasting of sales. Sales always influence the current asset and current liability account balances. For example: the account receivable balances would need to become larger increased if the firm needs to carry more inventory. Through the profit margin, and the dividend payout ratio. There is much difficult in forecasting sales, but it is an essential, it only depend on the season of the year, economy and the industry There could also be many other fa ctors as well. Reference Parrino, R., Kidwell, D. S., Bates, T. W. (2012). Fundamentals of corporate finance (2nd ed.). Hoboken, N. J.: John Wiley Sons. University of Phoenix material, (2013) â€Å"Analyzing Pro Forma Statements† retrieved from https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:44656217/context/co/view/activityDetails/activity/53c06956-87e9-4050-8ecc-815e914705e0/expanded/False/focus-cmt/none/tab/Instructions

Developing a Hypothesis

Developing a Hypothesis Definitions of hypothesis: The hypothesis is outlined as following: â€Å"Hypotheses square measure single tentative guesses, smart hunches –assumed to be used in fashioning theory or coming up with experiments supposed to tend an immediate experimental take a look at once possible†. (Eric Rogers, 1966) â€Å"A hypothesis may be a suppositious statement of the relation between 2 or additional variables†. (Kerlinger, 1956) â€Å"Hypothesis may be a formal statement that presents the expected relationship between AN freelance and variable quantity.†(Creswell, 1994) Hypothesis is that the main a part of analysis. its vital because it suggests new ways in which of doing the analysis. typically experiments square measure solely conduct to check a hypothesis. Decision-makers typically face things whereby theyre curious about testing hypotheses on the premise of accessible info so take choices on the premise of such testing. In scientific discipline, wherever direct information of population parameter(s) is rare, hypothesis testing is that the typically used strategy for deciding whether or not a sample information provide such support for a hypothesis that generalisation is created. so hypothesis testing permits U.S.A. to form chance statements concerning population parameter(s). The hypothesis might not be tried completely, however in follow its accepted if its withstood a essential testing. Before we have a tendency to make a case for however hypotheses square measure tested through totally different tests meant for the aim, itll be acceptable to elucidate clearly the that means of a hypothesis and also the connected ideas for higher world organisation derstanding of the hypothesis testing techniques. WHAT IS A HYPOTHESIS? Ordinarily, once one talks concerning hypothesis, one merely suggests that a mere assumption or some supposition  to be tried or disproved. except for a research worker hypothesis may be a formal question that he intends to  resolve. so a hypothesis is also outlined as a proposition or a group of proposition set forth as AN  explanation for the prevalence of some such cluster of phenomena either declared simply as a  provisional conjecture to guide some investigation or accepted as extremely probable within the lightweight of  established facts. very often a research hypothesis may be a prophetical statement, capable of being tested  by scientific ways, that relates AN variable to some variable quantity. for instance,  consider statements just like the following ones: â€Å"Students WHO receive counseling can show a larger increase in creative thinking than students not  receiving counselling† Or  Ã¢â‚¬Å"the automobile A is performing arts furthermore as automobile B.† These square measure hypotheses capable of being objectively verified and tested. Thus, we have a tendency to could conclude that  a hypothesis states what we have a tendency to square measure searching for and its a proposition which may be place to a take a look at to  determine its validity. Characteristics of hypothesis: Hypothesis should possess the subsequent characteristics: (i) Hypothesis ought to be clear and precise. If the hypothesis isnt clear and precise, the  inferences drawn on its basis cant be taken as reliable. (ii) Hypothesis ought to be capable of being tested. during a swamp of untestable hypotheses, many  a time the analysis programmes have over-involved. Some previous study is also done by  researcher so as to form hypothesis a testable one. A hypothesis â€Å"is testable if alternative  deductions is made up of it that, in turn, is confirmed or disproved by observation.†1 (iii) Hypothesis ought to state relationship between variables, if it happens to be a relative  hypothesis. (iv) Hypothesis ought to be restricted in scope and should be specific. A research worker should keep in mind  that narrower hypotheses square measure typically additional testable and he ought to develop such hypotheses. (v) Hypothesis ought to be explicit as so much as doable in most straightforward terms in order that identical is  easily comprehensible by all involved. however one should keep in mind that simplicity of hypothesis  has nothing to try to to with its significance. (vi) Hypothesis ought to be in keeping with most illustrious facts i.e., it should be in keeping with a  substantial body of established facts. In alternative words, it ought to be one that judges settle for  as being the foremost possible. (vii) Hypothesis ought to be amenable to testing inside an affordable time. One shouldnt use  even a superb hypothesis, if identical cant be tested in affordable time for one  cannot pay a life-time aggregation information to check it. (viii) Hypothesis should make a case for the facts that gave rise to the necessity for rationalization. This means  that by exploitation the hypothesis and alternative illustrious and accepted generalizations, one ought to be  able to deduce the initial downside condition. so hypothesis should truly make a case for what  it claims to explain; it ought to have empirical reference. The null hypothesisrepresents a theory that has been hints, either as a result of its believed to be true or as a result of its to be used asa basis for argument, however has not been tried. Has serious outcome if incorrect call is made! The alternative hypothesisis an announcement of what a hypothesis take a look at is about up to ascertain. Opposite of Null Hypothesis. Only reached if H0is rejected. Frequently â€Å"alternative†is actual desired conclusion of the researcher! The method of hypothesis testing is summarized in four steps. we are going to describe every of those four steps in larger detail in Section eight.2. 1. To begin, we have a tendency to establish a hypothesis or claim that we have a tendency to feel ought to be tested. for instance, wed need to check the claim that the mean range of hours that kids within the us watch TV is three hours. 2. We have a tendency to choose a criterion upon that we have a tendency to decide that the claim being tested is true or not. for instance, the claim is that kids watch three hours of TV per week. Most samples we have a tendency to choose ought to have a mean near or up to  3 hours if the claim we have a tendency to square measure testing is true. therefore at what purpose can we decide that the discrepancy between the sample mean and three is therefore massive that the claim  we square measure testing is probably going not true? we have a tendency to answer this question during this step of hypothesis testing. 3. Choose a random sample from the population and live the sample mean. for instance, we have a tendency to might choose twenty kids and live the time unit (in hours) that they watch TV per week. 4. Compare what we have a tendency to observe within the sample to what we have a tendency to expect to watch if  the claim we have a tendency to square measure testing is true. we have a tendency to expect the sample mean to be around  3 hours. If the discrepancy between the sample mean and population mean is tiny, then {we will|well|we square measure going to} possible decide that the claim we have a tendency to are testing is so true. If the discrepancy is simply too giant, then we are going to possible conceive to reject the claim as being not true. The method of hypothesis testing is summarized in four steps. we are going to describe every of those four steps in larger detail in Section eight.2. 1. To begin, we have a tendency to establish a hypothesis or claim that we have a tendency to feel ought to be tested. for instance, wed need to check the claim that the mean range of hours that kids within the us watch TV is three hours. 2. we have a tendency to choose a criterion upon that we have a tendency to decide that the claim being tested is true or not. for instance, the claim is that kids watch three hours of TV per week. Most samples we have a tendency to choose ought to have a mean near or up to  3 hours if the claim we have a tendency to square measure testing is true. therefore at what purpose can we decide that the discrepancy between the sample mean and three is therefore massive that the claim  we square measure testing is probably going not true? we have a tendency to answer this question during this step of hypothesis testing. 3. choose a random sample from the population and live the sample mean. for instance, we have a tendency to might choose twenty kids and live the time unit (in hours) that they watch TV per week. 4. Compare what we have a tendency to observe within the sample to what we have a tendency to expect to watch if  the claim we have a tendency to square measure testing is true. we have a tendency to expect the sample mean to be around  3 hours. If the discrepancy between the sample mean and population mean is tiny, then {we will|well|we square measure going to} possible decide that the claim we have a tendency to are testing is so true. If the discrepancy is simply too giant, then we are going to possible conceive to reject the claim as being not true. Step 2: Set the standards for a choice. to line the standards for a choice, we have a tendency to state the extent of significance for a take a look at. this can be the same as the criterion that jurors use during a criminal trial. Jurors decide whether or not the proof bestowed shows guilt on the far side an affordable doubt (this is that the criterion). Likewise, in hypothesis testing, we have a tendency to collect information to point out that the null hypothesis isnt true, supported the probability of choosing a sample mean from a population (the likelihood is that the criterion). The probability or level of significance is often set at five-hitter in activity analysis studies. once the chance of getting a sample mean is a smaller amount than five-hitter if the null hypothesis were true, then we have a tendency to conclude that the sample we have a tendency to designated is simply too unlikely and then we have a tendency to reject the null hypothesis. Level of significance, or significance level, refers to a criterion of judgment upon that a choice is created relating to the worth explicit during a null hypothesis. The criterion relies on the chance of getting a data point measured during a sample if the worth explicit within the null hypothesis were true. In activity science, the criterion or level of significance is often set at five-hitter. once the chance of getting a sample mean is a smaller amount than five-hitter if the null hypothesis were true, then we have a tendency to reject the worth explicit within the null hypothesis. The alternative hypothesis establishes wherever to position the extent of significance. keep in mind that we all know that the sample mean can equal the population mean on the average if the null hypothesis is true. All alternative doable values of the sample mean square measure commonly distributed (central limit theorem). The empirical rule tells U.S.A. that a minimum of ninety fifth of all sample suggests that fall inside concerning two customary deviations (SD) of the population mean, that means that theres but a five-hitter chance of getting a  sample mean thats on the far side two South Dakota from the population mean. For the youngsters  watching TV example, we are able to seek for the chance of getting a sample mean  beyond two South Dakota within the higher tail (greater than 3), the lower tail (less than 3), or both  tails (not up to 3). Figure 8.2 shows that the choice hypothesis is employed to  determine that tail or tails to position the extent of significance for a hypothesis take a look at. Step 3: reckon the take a look at data point. Suppose we have a tendency to live a sample mean up to  4 hours per week that kids watch TV. to form a choice, wed like to judge  how possible this sample outcome is, if the population mean explicit by the null  hypothesis (3 hours per week) is true. we have a tendency to use a take a look at data point to work out this  likelihood. Specifically, a take a look at data point tells U.S.A. however so much, or what number customary  deviations, a sample mean is from the population mean. The larger the worth of the  test data point, the any the space, or range of normal deviations, a sample  mean is from the population mean explicit within the null hypothesis. the worth of the  test data point is employed to form a choice in Step four. The take a look at data point may be a mathematical formula that permits researchers to  determine the probability of getting sample outcomes if the null hypothesis  were true. the worth of the take a look at data point is employed to form a choice relating to  the null hypothesis. Step 4: build a choice. we have a tendency to use the worth of the take a look at data point to form a choice  about the null hypothesis. the choice relies on the chance of getting a  sample mean, only if the worth explicit within the null hypothesis is true. If the chance of getting a sample mean is a smaller amount than five-hitter once the null hypothesis is true, then the choice is to reject the null hypothesis. If the chance of getting a sample mean is bigger than five-hitter once the null hypothesis is true, then the choice is to retain the null hypothesis. In sum, there square measure 2 choices a research worker will make: 1. Reject the null hypothesis. The sample mean is related to an occasional chance of prevalence once the null hypothesis is true. 2. Retain the null hypothesis. The sample mean is related to a high chance of prevalence once the null hypothesis is true. The chance of getting a sample mean, only if the worth explicit within the null hypothesis is true, is explicit by the p worth. The p worth may be a probability: It varies between zero and one and may neer be negative. In Step 2, we have a tendency to explicit the criterion or chance of getting a sample mean at that purpose we are going to conceive to reject the worth explicit within the null hypothesis, that is often set at five-hitter in activity analysis. to form a choice, we have a tendency to compare the p worth to the criterion we have a tendency to set in Step two. A p worth is that the chance of getting a sample outcome, only if the worth explicit within the null hypothesis is true. The p worth for getting a sample outcome is compared to the extent of significance. Significance, or applied mathematics significance, describes a choice created regarding a worth explicit within the null hypothesis. once the null hypothesis is rejected, we have a tendency to reach significance. once the null hypothesis is preserved, we have a tendency to fail to achieve significance. When the p worth is a smaller amount than five-hitter (p < .05), we have a tendency to reject the null hypothesis. we are going to talk over with p < .05 because the criterion for deciding to reject the null hypothesis, though note that once p = .05, the choice is additionally to reject the null hypothesis. When the  p worth is bigger than five-hitter (p > .05), we have a tendency to retain the null hypothesis. the choice to reject or retain the null hypothesis is named significance.

Joule thief Voltage booster

Joule thief Voltage booster The Joule thief is a voltage booster which takes it energy from an almost dead battery and can produce output, while the other circuits consider the battery, to be drained. And an earth battery, as the name says, is a kind of battery which takes it energy from the soil or sea, with the help of unalike electrodes buried in them. The idea of this paper is to utilize the earth battery and run the joule thief to lighten up the lights in a walkway, which includes less effort and efficient output. Introduction and Background: The earth battery was demonstrated by Alexander Bain in 1841, when he tried to operate a clock. He buried zinc and copper plates in ground a meter apart which resulted in one voltage output and thus, operated the clock. These kinds of batteries were used for telegraphy by early researchers [source: EE]. This dirt setup is similar to Daniell-cell battery. It had two electrolytes: zinc hung freely in zinc-sulphate and copper in copper-sulphate solution. These electrodes exchange electrons between zinc and copper (which are the anode and cathode) and generate current. In the earth battery, the sulphates are replaced by dirt [source: HSW]. The Joule thief circuit was published in November 1999 issue of Everyday Practical Electronics (EPE), by Z.Kaparnik. It was an execution of transformer-feedback single-transistor inverter. A one meter copper wire is wounded around a ferrite (toroid core) to make it a transformer and the resistor limits the feedback current into the transistor and the transistor switches on and off about 50,000 times in one second making the LED to light [source: BC/Joule]. Methodology: The methodology is to use the earth battery, which produces comparatively more energy (unlike the generally used circuits) and ride a Joule thief, which usually takes energy from almost dead batteries and produces output equal as the input. So when used in this scenario, will produce voltage same as input, that is, the energy from earth battery, and can be used to lit LED lights set in a walkway. The working methodology is the electrodes in earth battery (zinc and copper), exchange ions and produce currents. This battery is connected to a joule thief. In a joule thief, the main components are ferrite (toroid core), copper wire, transistor, and resistor. The copper wire is made two folds and wounded around the core to make it a transformer. The more, the number of turns, the more input it gives. The circuit looks like shown: The resistor can be taken to be, 512ohms. The inflow and outflow of current from the transistor makes it work like a switch and it goes on and off 50,000 times a second making the LED to light. So, a series of LED lights setup in a walkway can be run using the Joule thief ridden by an earth battery. Analysis: The analysis is that, the earth battery doesnt need any circuitry, and takes its energy from the soil and it can be placed inside the soil with just two wires coming out, which are connected to the joule thief. And, as discussed, the joule thief lights up the LEDs. The LEDs can have a motion sensor attached (if necessary to save energy) and otherwise, the earth battery can be used to charge batteries or perform any other functions. And also, LEDs are better than fluoros, because, they save a lot of energy comparatively. LEDs are costly, as of now, but the overall efficiency that they work at, is more than fluoros. If the total energy consumed and the skilfulness is calculated per annum, then LEDs stand first. Conclusions: I think that this idea is practically possible. Both are efficient and energy-saving circuits. So, the walkway in the Uni or any other likewise can be lit using this circuitry idea saving more energy and lasting long than the ones now in use.

Authoritarianism: Prevail, or Not? Essay -- Government Political Scie

â€Å"History proves that all dictatorships, all authoritarian forms of government are transient. Only democratic systems are not transient. Whatever the shortcomings, mankind has not devised anything superior,† Vladimir Putin once said this. With such a view of authoritarianism, there would be assumption that the entire world is on its way to seek such democracy if it is such a clear, correct choice. However, nothing is ever so simple, and this is not the case. In this essay I will take a look at how authoritarianism fails, as well as why it is able to prevail is some areas. Authoritarian forms of government do sometimes fail. The reasons for such failure include the public’s dissatisfaction with the current governmental regime, the emergence of relevant opposition, political negotiation with elites, the physical location as well as history of freedom in a given nation, and the deserting of the authoritarian leader. While there are legitimate reasons for nondemocratic regime failure and there have been great moves toward a more democratic world, there are also reasons authoritarianism is able to sustain and survive in some cases. The fairly recent back-slipping from democratic rule to nondemocratic rule, or authoritarianism, is contingent on many factors. Factors ranging from a state’s mineral wealth, to its history of repression, to the fact many new democracies are small and weak allow nondemocratic regimes to sustain and prevail in certain states. One of the first steps in the failure of authoritarianism is public dissatisfaction. There must be people within the state that are not content with the way the nondemocratic regime is governing. This sort of disapproval sets in motion a movement toward the breakdown of t... ...to represent the public interests. So, elites cash in on the resources while letting the rest of the nation suffer. Governments evolve and change all of the time. What makes a state fail or prevail as nondemocratic depends on very many things. And, although we cannot be sure what is to come for a given nation unquestionably, this paper is an overview of some basic, guiding tendencies and situations that cause a state to either fail or prevail as an authoritarian regime. Only time will tell what is truly in store for the world governing systems. Works Cited O'Neil, Patrick H., and Ronald Rogowski. "Chapterb6." Essential Readings in Comparative Politics. Third ed. New York: W.W. Norton &, 2006. 205-41. Print. O'Neil, Patrick H. "Chapter 6, Chapter 8." Essentials of Comparative Politics. Third ed. New York, NY: W.W. Norton &, 2007. 141-162+. Print. Authoritarianism: Prevail, or Not? Essay -- Government Political Scie â€Å"History proves that all dictatorships, all authoritarian forms of government are transient. Only democratic systems are not transient. Whatever the shortcomings, mankind has not devised anything superior,† Vladimir Putin once said this. With such a view of authoritarianism, there would be assumption that the entire world is on its way to seek such democracy if it is such a clear, correct choice. However, nothing is ever so simple, and this is not the case. In this essay I will take a look at how authoritarianism fails, as well as why it is able to prevail is some areas. Authoritarian forms of government do sometimes fail. The reasons for such failure include the public’s dissatisfaction with the current governmental regime, the emergence of relevant opposition, political negotiation with elites, the physical location as well as history of freedom in a given nation, and the deserting of the authoritarian leader. While there are legitimate reasons for nondemocratic regime failure and there have been great moves toward a more democratic world, there are also reasons authoritarianism is able to sustain and survive in some cases. The fairly recent back-slipping from democratic rule to nondemocratic rule, or authoritarianism, is contingent on many factors. Factors ranging from a state’s mineral wealth, to its history of repression, to the fact many new democracies are small and weak allow nondemocratic regimes to sustain and prevail in certain states. One of the first steps in the failure of authoritarianism is public dissatisfaction. There must be people within the state that are not content with the way the nondemocratic regime is governing. This sort of disapproval sets in motion a movement toward the breakdown of t... ...to represent the public interests. So, elites cash in on the resources while letting the rest of the nation suffer. Governments evolve and change all of the time. What makes a state fail or prevail as nondemocratic depends on very many things. And, although we cannot be sure what is to come for a given nation unquestionably, this paper is an overview of some basic, guiding tendencies and situations that cause a state to either fail or prevail as an authoritarian regime. Only time will tell what is truly in store for the world governing systems. Works Cited O'Neil, Patrick H., and Ronald Rogowski. "Chapterb6." Essential Readings in Comparative Politics. Third ed. New York: W.W. Norton &, 2006. 205-41. Print. O'Neil, Patrick H. "Chapter 6, Chapter 8." Essentials of Comparative Politics. Third ed. New York, NY: W.W. Norton &, 2007. 141-162+. Print.

Rhetorical Analysis Essay -- Argumentative Essays Rhetoric

Rhetorical Analysis In a persuasive essay, rhetorical appeals are a very important tool to influence the audience toward the author’s perspective. The three rhetorical appeals, which were first developed by Aristotle, are pathos, logos, and ethos. Pathos appeals to the emotions of the audience, logos appeals to the facts or evidence and ethos exhibits the credibility of the writer. William Bennett is a well-respected man in the political world. He served as Secretary of Education and Chairman of the National Endowment for the Humanities under President Ronald Reagan and Director of the Office of National Drug Control Policy under President George H.W. Bush. His essay entitled â€Å"Leave Marriage Alone,† which was published in Newsweek, June 3, 1996, is a response to an article written by Andrew Sullivan advocating same-sex marriage. Using rhetorical analysis I will determine whether or not this essay is effective and why. Bennett is a conservative republican who is a strong advocate for family values. The purpose of Bennett’s essay is to expose the downside of Andrew Sullivan’s argument in favor of same-sex marriage. He wants to persuade those who have read Sullivan’s essay to side with him. His audience seems to be primarily middle-aged heterosexuals who already take his stance on the topic. Bennett’s essay is clear, concise and to the point. He talks about the key issues from the first sentence in the first paragraph. The structure of his essay is deductive, beginning with â€Å"the two key issues that divide proponents and opponents of same sex marriage. The first is weather legally recognizing same-sex unions would strengthen or weaken the instition. The second has to do with the basic understanding of mar... ...etorical appeal will help to expose fallacies in the writers’ own argument. William Bennett has some good arguments but his lack of rhetorical appeal weakens his essay. He writes from the point of view of a bullheaded politician who shows little consideration for his opposition. He exhibits no appeal to emotion and comes off cold and without compassion. He gives no facts or statistics behind his arguments, just generalizations about a group of people it seems he knows very little about. All in all, Bennett’s essay is very feeble because he chose to ignore the literary laws Aristotle founded many centuries earlier. This essay is proof that these laws are truly effective. Works Cited: Gruber, Sibylle, Ed. et al. Constructing Others, Constructing Ourselves. Dubuque, Iowa: Kendall/Hunt, 2002. Bennett, William. â€Å"Leave Marriage Alone.† Gruber 29-30.

Moral Luck Essay -- Analysis, Williams Bernard

The case of moral luck was introduced by Williams Bernard and developed by Thomas Nagel in their articles respectively. Both raised the question whether luck can influence the judgment of morality. In this essay, the definition of moral luck and four kinds of moral luck by Williams and Nagel will be discussed through several case examples, and then followed with some arguments from Judith Andre, Donna Dickenson and David Enoch and Andrei Marmor who disagree with the concept of moral luck. Let take a simple example from Nagel’s paper to acquire a brief understanding on the idea of moral luck. Driver A and B were both drunk when driving home. Drive A passed the red light and killed a child who was passing the street while driver B got home safely. To Williams and Nagel, driver A should be, of course, responsible for manslaughter under the laws, but also should be morally treated as the same as driver B since the difference outcomes are solely based on luck. As Williams argues â€Å"luck of this kind affects whether he will be justified or not, since if it strikes, he will not be justified† (Williams, p.25). Therefore, in his book â€Å"Moral Luck†, Williams introduced a new term â€Å"moral luck† referring to â€Å"luck that occurs when an agent can be correctly treated as an object of moral judgment despite the fact that a significant aspect of what she is assessed for depends on factors beyond her control† (Nelkin). Nagel agrees to Williams’ idea and categorizes ‘moral luck’ into four different types. They are constitutive, circumstantial, resultant, and causal luck. Constitutive luck refers to â€Å"the kind of person you are, where this is not just a question of what you deliberately do, but of your inclination, capacities, and temperament†. In anoth... ...g the intention is, or how certain we feel about it†, (Enoch and Marmor, p. 422). Williams’s and Nagel’s concept of moral luck encounter more disagreement than being agreed since moral luck is not universally applicable in every situation. The existence of either motive or agent-regret will, in some cases, be enigma since they are private matter and unknown to the rest of us. Therefore, the case of moral luck has been yet remains unsolved due to its inconsistency. On the other hand, if motives and intentions (of being moral) are not counted and/or agent-regret does exist, it will be unfair to the person who is incorrectly treated since the result is actually out of their control. Thus, the moral luck is a sensitive matter and should be applied per case based on the presented facts. There is no such universal formula for relevance of moral luck in each situation.

Tax(Case Report-on-Income-Tax-Authorities-in-Bangladesh)

ASSIGNMENT on Income Tax Authorities in Bangladesh [pic] National Board of Revenue – NBR Rajashwa Bhaban Segunbagicha, Dhaka Telephone: +88 02 933-3444. http://www. nbr-bd. org National Board of Revenue (NBR), Bangladesh. Page 2 of 31 Table of contents: |Serial |Topic |Page No. | |I |Cover |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 01 | | |Page†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. | | | |. | |II |Topic/Source of the ASSIGNMENT†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 02| |III |Table of |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 03| | |contents†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ | | |01 |Letter of |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 04| | |Transmittal†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. | |02 |Acknowledgement †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 05| |03 |Background of |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 06| | |NBR†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. | | |04 |Taxation and its |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 07| | |history†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ | |05 |Tax Authori ties of Bangladesh †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦10 | |06 |Types of Income †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦12 | |07 |Classification of Tax systems†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 | |08 |Types of |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦14 | | |Taxation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. | |09 |Methodology †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦15 | | |9. 01 Sources of Income†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦15 | | |9. 02 Tax Rate†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 | | |9. 03 Tax Rebate for investment †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 | | |9. 04 Who should submit Income Tax Return? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦17 | | |9. 05 Time to submit Income Tax Return †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦18 | | |9. 06 Assessment Procedure †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦19 | | |9. 07 Tax withholding functions †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦19 | | |9. 08 Major areas for final settlement of tax liability †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦22 | | |9. 09 Fiscal incentives †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦23 | | |9. 10 Avoidance of Double Taxation Agreement †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦24 | |10 |Steps for collecting Income Tax in Bangladesh†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦24 | |11 |Procedure of Assessment †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦25 | |12 |Problems for collecting Income Tax†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦26 | |13 |Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. |†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦31 | | |†¦Ã¢â‚¬ ¦.. | | National Board of Revenue (NBR), Bangladesh.Page 3 of 31 Letter of Transmittal March 03, 2012 To Md. Abdul Awal Chairman, EECS deparment NorthSouth University Basundhara Campus, Dhaka. Subject: Submission of Assignment on â€Å"Income Tax Authorities in Bangladesh†. Dear Sir I am pleased to submit this Assignment-report on â€Å"Income Tax Authorities in Bangladesh†. This research program was taken by the help of â€Å"Three tax system of Bangladesh†, written by M. A. Akkas, and â€Å"Income Tax† written by â€Å"Mr. Mahmud† and â€Å"Purohit Bhattacharjee†. Here is the report on the observational study of â€Å"Income Tax authority in Bangladesh†.We honestly believe that this report will fulfill the requirements of the case report, which will help us a lot to gain sufficient knowledge about the â€Å"Income Tax authority in Bangladesh† Sincerely, Deb kumar Roy ID:0910019040 National Board of Revenue (NBR), Bangladesh. Page 4 of 31 Acknowledgement I am very much grateful to the God first, who has given me all the ability to perform this chore. At last but not the least, I am grateful to my ever-respected parents those who always give us mental support and well wishes.National Board of Revenue (NB R), Bangladesh. Page 5 of 31 Background of NBR The National Board of Revenue (NBR) is the central authority for tax administration inBangladesh. ItwasestablishedbyPresident'sOrderNo. 76of1972. Administratively, it is under the Internal Resources Division (IRD) of the Ministry of Finance (MoF). MoF has 3 Divisions, headed by 3 permanent Secretaries to the Government, namely, the Finance Division the Internal Resources Division (IRD) and the Economic Relations Division (ERD). The Secretary, IRD is the ex-officio Chairman of NBR.NBR is responsible for formulation and continuous re-appraisal of tax-policies and tax-laws, negotiating tax treaties with foreign governments and participating in inter-ministerial deliberations on economic issues having a bearing on fiscal policies and tax administration. The main responsibility of NBR is to collect domestic revenue (primarily, Import Duties and Taxes, VAT and Income Tax) for the government. Other responsibilities include administration of al l matters related to taxes, duties and other tax producing fees.Under the overall control of IRD, NBR administers the Excise, VAT, Customs and Income-Tax services consisting of 3434 officers of various grades and 10195 supporting staff positions (Approved set up as on 09 Feb. , 2000 AD). Negotiating tax treaties with foreign governments and participating in inter- ministerial deliberations on economic issues having a bearing on fiscal policies and tax administration are also NBR's responsibilities. The main responsibility of NBR is to mobilize domestic resources through collection of import duties and taxes, VAT and income tax for the government.Side by side with collection of taxes, facilitation of international trade through quick clearance of import and export cargoes has also emerged as a key role of NBR. Other responsibilities include administration of matters related to taxes, duties and other revenue related fees/charges and prevention of smuggling. Under the overall control of IRD, NBR administers the excise, VAT, customs and income-tax services consisting of 3434 officers of various grades and 10195 supporting staff positions. National Board of Revenue (NBR), Bangladesh. Page 6 of 31Taxation and its history Taxation- one of the major sources of public revenue to meet a country's revenue and development expenditures with a view to accomplishing some economic and socialobjectives,suchasredistributionofincome,pricestabilizationand discouraging harmful consumption. It supplements other sources of public finance such as issuance of currency notes and coins, charging for public goods and services and borrowings. The term â€Å"Tax† has been derived from the French word â€Å"Taxe† and etymologically, the Latin word â€Å"Taxare† is related to the term ‘tax', which means ‘to charge'.Tax is ‘a contribution exacted by the state'. It is a non-penal but compulsory and unrequited transfer of resources from the private to the public sector, levied based on predetermined criteria. According to Article 152(1) of the Constitution of Bangladesh, taxation includes the imposition of any tax, rate, duty or impost, whether general, local or special, and tax shall be construed accordingly. Rate is a local tax imposed by local government on its residents or the property owners of the locality, a duty is a tax levied on a commodity, and an impost is a tax imposed for an entry into a country.Under the provision of article 83 of the Constitution, â€Å"no tax shall be levied or collected except by or under the authority of an Act of Parliament†. Bangladesh inherited a system of taxation from its past British and Pakistani rulers. The system, however, developed based on generally accepted canons and there had been efforts towards rationalizing the tax administration for optimizing revenue collection, reducing tax evasion and preventing revenue leakage through system loss.Taxes include narcotics duty (collected by the Department of Narcotics Control, Ministry of Home Affairs), land revenue (administered by the Ministry of Land and collected at local Tahsil offices numbered on average, one in every two Union Parishads), non-judicial stamp (collected under the Ministry of Finance), registration fee (collected by the Registration Directorate of the Ministry of Law, Justice and Parliamentary Affairs) and motor vehicle tax (collected under the Ministry of Communication). National Board of Revenue (NBR), Bangladesh.Page 7 of 31 The tax structure in the country consists of both direct (income tax, gift tax, land development tax, non-judicial stamp, registration, immovable property tax, etc) and indirect (customs duty, excise duty, motor vehicle tax, narcotics and liquor duty, VAT, SD, foreign travel tax, TT, electricity duty, advertisement tax, etc) taxes. The present land revenue system of Bangladesh has its base in the East Bengal state acquisition and tenancy act 1950 which established a dire ct contract between the taxpayer and the government.The most important tax on the value of transferred property is the non-judicial stamp tax (levied under the Stamp Act 1899), which has been in existence since January 1899. Current rates of non-judicial stamp duty are provided in the First Schedule of the Finance Act 1998, ranging from Tk. 4 to Tk. 10,000 in case of absolute rate, or from 0. 07% to 1. 5% of the value of consideration in case of ad valorem rate. The judicial stamp tax is being levied under the Court Fees Act 1870, although the levy of court fees originated in the introduction of the Bengal Regulation No. 8 of 1795. The first sales tax was introduced in the former Central Provinces of India in 1938. In Bengal, sales tax was adopted in 1941. In 1948, sales tax was transferred as a central tax under the General Sales Tax Act of 1948. The Sales Tax Act 1951 came into force on 1 July 1951 by repealing the Pakistan General Sales Tax Act of 1948. Until 1982, sales tax was being collected under the 1951 Act, which was replaced by the Sales Tax Ordinance 1982. The VAT law was promulgated by repealing the Business.Income tax was first introduced in the subcontinent by the British in 1860 to make up the revenue deficit caused by the sepoy revolt, 1857. After independence of Bangladesh, income tax was made effective under the Income Tax Act 1922 passed on the basis of the recommendations of the All-India Income Tax Committee appointed in 1921. Currently, income tax has been imposed under the Income Tax Ordinance 1984 (ITO) promulgated on the basis of recommendations of the Final Report of the Taxation Enquiry Commission submitted in April 1979.Income taxpayers (assesses) are classified as individuals, partnership firms, Hindu undivided National Board of Revenue (NBR), Bangladesh. Page 8of 31 families (HUF), associations of persons (AOP), companies (publicly traded and private), local authorities, and other artificial juridical persons. Tax rates and scope of taxable income differ based on residential status of an assesses (resident or non- resident). From fiscal or assessment year, (AY) 2000-01, there is a filing threshold of annual total income of Tk. 00,000 applicable for individuals (including non-resident Bangladeshis), partnership firms, HUF, AOP and assesses other than companies and local authorities. In case an identity of this group has a total annual income less than this level, he is not required to submit tax return but if someone's income is higher, he is to pay a minimum tax of Tk. 1,000. Bangladesh inherited a system of taxation from its past British and Pakistani rulers. National Board of Revenue (NBR), Bangladesh. Page 9 of 31 Tax Authorities of Bangladesh ? There are 3-divisions under the Ministry of Finance (MOF) and Secretary leads each division. ? |The Chairman of NBR (National Board of Revenue) is working |under Internal | | |Resource Division (IRD). | | | | | | | | | | |? |NBR is the apex body of the Tax Admi nistration. | | It consists of two parts: (1) Customs & VAT (2) Income Tax. Both are under the same authority.There are 4-members under NBR. ? Under the NBR, a Commissioner of Taxes is the head of the department and he is in charge of a taxes Zone. There are 8-Zones in Bangladesh. National Board of Revenue (NBR), Bangladesh. Page 10 of 31 [pic] National Board of Revenue (NBR), Bangladesh. Page 11 of 31 Types of Income Income Assessable IncomeNon-Assessable Income Taxable Income Non-taxable Income Income: Income means anything received in cash or in kind unless exempted by laws. 1) Assessable Income: Assessable Incomes are those incomes, which are included in the determination of total income of a taxpayer. ) Taxable Income: Taxable Incomes are those incomes that the tax is to be paid on those incomes. b) Non- Taxable Income: Non – taxable income is taken into total income for taxation rate purpose but no tax is to be paid on this part of income. 2) Non- Assessable Income: Non - assessable incomes are those incomes which are not included in the determination of total income of a taxpayer. National Board of Revenue (NBR), Bangladesh. Page 12 of 31 Classification of Tax systems Classification of Tax System Single Tax Multiple Taxes 1. Single Tax: Only one tax for everybody.Single tax is the poll tax or the head tax or adolescent tax, which is imposed on a person simply because he is there in the society. 2. Multiple Taxes:A system under which different types of taxes shall be levied by the govt. according to suitability. Ex. Income Tax, VAT. National Board of Revenue (NBR), Bangladesh. Page 13 of 31 Types of Taxation Types of Taxation a) Direct Tax b) Indirect Tax a) Progressive Tax b) Regressive Tax c) Proportional Tax a) Direct Tax: Direct tax is a sort of tax the impact of effect incidents and which fall back on the person on whom it is imposed. . e. : Income Tax, Marriage Tax etc. b) Indirect Tax: Indirect taxes are those burden of which can be passed o n others through price vehicles. c) Progressive Tax: The tax rate increases as the taxable income/amount increases. d) Regressive tax: The opposite of a progressive tax is a regressive tax where the tax rate decreases as the taxable income/amount increases. e) Proportional Tax: In between is a proportional tax, where tax is fixed as the amount to which the rate is applied increases. National Board of Revenue (NBR), Bangladesh. Page 14 of 31 MethodologyAmong direct taxes, income tax is one of the main sources of revenue. It is a progressive tax system. Income tax is imposed on the basis of ability to pay. The more a taxpayer earns the more he should pay†- is the basic principle of charging income tax. It aims at ensuring equity and social justice. Sources of Income: For the purpose of computation of total income and charging tax thereon, sources of income can be classified into 7 categories, which are as follows: †¢Salaries †¢Interest on securities †¢Income from house property †¢Income from agriculture †¢Income from business or profession Capital gains †¢Income from other sources. Tax Rate (Assessment Year- 2008-09): Other than Company: For individuals other than female taxpayers, senior taxpayers of 70 years and above and retarded taxpayers, tax payable for the |First |1,65,000/- |Nil | |Next |2,75,000/- |10% | |Next |3,25,000/- |15% | |Next |3,75,000/- |20% | |Rest Amount | |25% |For female taxpayers, senior taxpayers of age 70 years and above and retarded taxpayers, tax payable for the |First |1,80,000/- |Nil | |Next |2,75,000/- |10% | |Next |3,25,000/- |15% | National Board of Revenue (NBR), Bangladesh. Page 15 of 31 |Next |3,75,000/- |20% | |Rest Amount | |25% |Minimum tax for any individual assesses is Tk. 2,000 Non-resident Individual25% (other than non-resident Bangladeshi) For Companies Publicly Traded Company27. 5% Non-publicly Traded Company37. 5% Bank, Insurance & Financial Company 45% Mobile Phone Operator Compan y45% If any publicly traded company declares more than 20% dividend, 10% rebate on total tax is allowed. Tax Rebate for investment: Rate of Rebate: Amount of allowable investment is either up to 25% of total income or Tk. 5,00,000/- whichever is less.Tax rebate amounts to 10% of allowable investment. Types of investment qualified for the tax rebate are: †¢Life insurance premium †¢Contribution to deferred annuity †¢Contribution to Provident Fund to which Provident Fund Act, 1925 applies †¢Self contribution and employer's contribution to Recognized Provident Fund †¢Contribution to Super Annuation Fund †¢Investment in approved debenture or debenture stock, Stocks or Shares †¢Contribution to deposit pension scheme †¢Contribution to Benevolent Fund and Group Insurance premium †¢Contribution to Zakat Fund Donation to charitable hospital approved by National Board of Revenue †¢Donationtophilanthropicoreducationalinstitutionapprovedbythe Gov ernment †¢Donation to socioeconomic or cultural development institution established in Bangladesh by Aga Khan Development Network National Board of Revenue (NBR), Bangladesh. Page 16 of 31 Who should submit Income Tax Return? †¢If total income of any individual other than female taxpayers, senior taxpayers of 70 years and above and retarded taxpayers during the income year exceeds Tk 1,65,000/-. If total income of any female taxpayer, senior taxpayer of 70 years and above and retarded taxpayer during the income year exceeds Tk 1,80,000/-. †¢If any person was assessed for tax during any of the 3 years immediately preceding the income year. †¢A person who lives in any city corporation/paurashava/divisional HQ/district HQ and owns a building of more than one storey and having plinth area exceeding 1,600 sq. feet/owns motor car/owns membership of a club registered under VAT Law. †¢If any person subscribes a telephone. If any person runs a business or profession having trade license. †¢Any professional registered as doctor, lawyer, income tax practitioner, Chartered Accountant, Cost & Management Accountant, Engineer, Architect and Surveyor etc. †¢Member of a Chamber of Commerce and Industries or a trade Association. †¢Any person who participates in a tender. †¢A person who has a Taxpayer's Identification Number (TIN). †¢Candidate for Union Parishad, Paurashava, City Corporation or Parliament. Time to Submit Income Tax Return: For CompanyBy fifteenth day of July next following the income year or, where the fifteenth day of July falls before the expiry of six months from the end of the income year, before the expiry of such six months. For Other than Company Unless the date is extended, by the Thirtieth day of September next following the income year. Consequences of Non-Submission of Return †¢imposition of penalty amounting to 10% of tax on last assessed income subject to a minimum of Tk. 1,000/- †¢In case of a continuing default a further penalty of Tk. 50/- for every day of delay.National Board of Revenue (NBR), Bangladesh. Page 17 of 31 Assessment Procedures: †¢For a return submitted under normal scheme, assessment is made after hearing. †¢For returns submitted under Universal Self Assessment Scheme, the acknowledgement slip is determined to be an assessment order. Universal Self Assessment is of course subject to audit. Appeal against the order of DCT: A taxpayer can file an appeal against DCT's order to the Commissioner (Appeals)/Additional or Joint Commissioner of Taxes (Appeals) and to the Taxes Appellate Tribunal against an Appeal order. Tax withholding functions:In Bangladesh withholding taxes are usually termed as Tax deduction and collected at source. Under this system both private and public limited companies or any other organization specified by law are legally authorized and bound to withhold taxes at some point of making payment and deposit the same to the Go vernment Exchequer. The taxpayer receives a certificate from the withholding authority and gets credits of tax against assessed tax on the basis of such certificate. Heads of Income Subject to deduction or collection of income tax at source with specified rates of deduction. |No. Heads |Section/Rule |Rate |Chalan in the | | | | | |name of | |1 |Salaries | | |Respective | | | |Section 50 |deduction at average rate |Zone | |2 |Discount on the real value of | |deduction at normal rate or maximum rate |LTU | | |Bangladesh Bank Bills |Section 50A |whichever is greater. | |3 |Interest on securities |Section 51 |10%on interest or discount |LTU | |4 |Supply of goods and execution of | |nil up to 1 lac, 1-5 lacs |Zone-2 (Partly) &| | |contracts and sub-contracts |Section |(1%), 5-15 lacs (2. 5%), 15- |LTU | | | |52(Rule 16) |25 lacs 3. 5% and 25 lacs and above | | | | | |(4%) | | National Board of Revenue (NBR), Bangladesh. Page 18 of 31 |5 |Indenting commission / Shipping | |3. 5% of the to tal receipt of indenting |Zone-2 | | |agency commission |Section 52 (Rule 17) |commission & 5% of total Shipping agency | | | | |commission receipt | | |6 |Royalty, Fees for professional or | | |Zone-8 | | |technical services |Section 52 A |10% of the fees | | |7 |Stevedoring agency & Security |Section 52 | |Ctg. Zone- | | |service |AA |7. 5% of the fees |2 | |8 |C & F agency commission |Section 52 | |Zone-2 | | | |AAA |7. 5% of the fees | | |9 |Sale of bandrolls ( for biri) | | |Respective | | | |Section 52B |6% of the value of bandrolls. Zone | |10 |Compensation for acquisition of | |6% of the compensation money |Zone-2 | | |property |Section 52C | | | |11 |Interest on saving instruments | |10% of the amount of interest (Current |Zone-2 | | | |Section 52D |rate) | | |12 |Collection of tax from brick | |1 Sec. = Tk. 10,000/ for each brick field. |Respective | | |manufacturers | |1. 5 Sec. = Tk. 2,000/ for each brick |Zone | | | | |field. | | | | |Section 52F |2 Sec. = Tk. 18,000/ f or each | | | | | |brick field. | | |13 |Commission on Letter of | |5% of the amount of commission. |LTU | | |Credits |Section 52I | | | |14 |Issuing & Renewal of trade | Tk 500/- For renewal of each |Zone-3 | | |licence |Section 52K |Lincence | | |15 |Trustee fees |Section 52L |10% | | |16 |Frieght Forward agency | | | | | |Com. |Section 52M |7. 5% | | |17 |Rental power |Section 52N |4% | | |18 |Import of goods |Section 53 (Rule17A) | |Zone-2 | | | | |3% of the value of imports. | |19 |Income from house property (house | |No deduction if monthly rent is below |Zone-2 | | |rent) | |20,000/- |Dha & Other | | | |Section 53A (Rule17B)|3% (if monthly rent is |outside | | | | |20,000-40,000 Tk. ) and |Zone | | | | |5% (if monthly rent is above | | | | | |40,000 Tk. | | |20 |Shipping business of resident | | |Zone-2,ctg | | | |Section 53AA |5% of freight | | |21 |Export of manpower |Section 53B (Rule | |Zone-2, dhk & ctg| | | |17C) |10% of the service charges. | | |22 |Export of Knitwear |Section 53BB |0. 25% |Zone-5 | |23 |Member of Stock |Section | |Zone-7 | | |Exchange |53BBB |0. 015% | | |24 |Export of goods except |Section |0. 25% |Zone-5 | National Board of Revenue (NBR), Bangladesh. Page 19 of 31 |Knitweare & Woven garments |53BBBB | | | |25 |Sale of goods by public auction |Section 53C (Rule | |Zone-2 | | | |17D) |5% of the sale price | | |26 |Courier Service (Non- resident) | | |Zone-6 | | | |Section 53CC |7. 5% | | |27 |Payment to film actors and actresses| |5% of the amount paid exceeding |Zone-2 | | | |Section 53D (Rule |Tk. 6000/- | | | | |17E) | | | |28 |Cash subsidy |Section 53DD |5% |Zone-5 | |29 |Commission Fees or discount paid to| | |Zone-2 & LTU | | |distributors |Section 53E (Rule |7. 5% of the amount of commission. | | | | |17G) | | | |30 |Commission or charges paid to the | | |Dhk. Zone- | | |agents of foreign buyers | | |6, | | | | | |Ctg.Zone-3 and | | | | |4 % on the amount of commission or charges. |Zone of | | | |Section 53EE | |Respect ive | | | | | |Division | |31 |Interest on bank deposits |Section 53F (Rule |10% of the amount of interest. |Zone-1 | | | |17H) | | | |32 |Real Estate & Developers | |In case of Bldg. 250 per sq. eter |Zone-5 | | | | |In case of land 5% of deed value | | | | |Section 53FF | | | |33 |Insurance commission | |3% on the amount of commission |LTU | | | |Section 53G | | | |34 |Commission paid to the Surveyors of | | |Dhk. Zone- | | |General Insurances | | |2, | | | | | |Ctg. Zone-3 and | | | | |7. 5% on the amount of commission. Zone | | | |Section 53GG | |of | | | | | |Respective | | | | | |Division | |35 |Transfer of property |Section 53H (Rule |5% of the value of the property. |Survey | | | |17I) | |Zone | | |Interest on Post Office | |No deduction if the amount of interest does|Zone-2 | | |Savings Bank Account | |not exceeds Tk. 1,50,000 and if exceeds | | | | |Section 53I |then 10% on the amount of interest . | | |36 |Rent of vacant land, plant and | No deduction if monthly rent is b elow |Zone-2 | | |machinery | |15,000/- | | | | |Section 53J (Rule |3% (if monthly rent is | | | | |17BB) |15,000 -30,000 Tk. ) and | | | | | |5% (if monthly rent is above | | | | | |30,000 Tk. ) | | National Board of Revenue (NBR), Bangladesh. Page 20 of 31 |37 |Advertising bill of news paper, | | |Zone-5 | | |magazine, private television | |3% of the value of the property. | | |channel |Section 53K | | | |38 |Dividend | | |LTU (only LTU’s | | | | |(1) Resident individual 10%, non-resident |files) all others| | | |Section 54 |individual 25% (2) Company 15% |Zone-2 | |39 |Income from lottery |Section 55 |20% of the amount won. |Zone-2 | |40 |Income of non-resident Other than | |Company – rate applicable to the com. Other|Zone-6 | | |non- resident Bangladeshi} |Section 56 |than company – maximum rate. | | Major areas for final settlement of tax liability:Tax deducted at source for the following cases is treated as final discharge of tax liabilities. No additional tax is charged or refund is allowed in the following cases:- †¢Supply or contract work †¢Band rolls of hand made cigarettes †¢Import of goods †¢Transfer of properties †¢Export of manpower †¢Real Estate Business †¢Export value of garments †¢Local shipping business †¢Royalty, technical know-how fee †¢Insurance agent commission. †¢Auction purchase †¢Payment on account of survey by surveyor of a general insurance company †¢Clearing & forwarding agency commission. †¢Transaction by a member of a Stock Exchange. †¢Courier business †¢Export cash subsidy Tax Recovery System:In case of non-payment of income tax demand the following measures can be taken against a taxpayer for realization of tax:- †¢Imposition of penalty †¢Attachment of bank accounts, salary or any other payment. †¢Filing of Certificate case to the Special Magistrate. National Board of Revenue (NBR), Bangladesh. Page 21 of 31 Advanc e Payment of Tax: Every taxpayer is required to pay advance tax in four equal installments falling on 15th September; 15th December; 15th March and 15th June of each year if the latest assessed income exceeds Taka three lakh. Penalty is imposed for default in payment of any installment of advance tax. Fiscal incentives : Following are fiscal incentives available to a taxpayer: )Tax holiday: Tax holiday is allowed for industrial undertaking, tourist industry and physical infrastructure facility established between 1st July 2008 to 30th June 2011 in fulfillment of certain conditions. Industrial Undertaking Eligible for Tax holiday: (i)An industry engaged in production of textile, textile machinery, jute goods, high value garments, pharmaceuticals, melamine, plastic products, ceramics, sanitary ware, steel from iron ore, MS Rod, CI Sheet, fertilizer, insecticide & pesticide, computer hardware, petro-chemicals, agriculture machinery, boilers, compressors, basic raw materials of drugs, c hemicals and pharmaceuticals. (ii)An industry engaged in agro-processing, ship building, diamond cutting. Physical Infrastructure Eligible for Tax holiday:Sea or river port, container terminals, internal container depot, container freight station, LNG terminal and transmission line, CNG terminal and transmission line, gas pipe line, flyover, mono rail, underground rail, telecommunication other than mobile phone, large water treatment plant & supply through pipe line, waste treatment plant, solar energy plant, export processing zone. Tourism Industry Eligible for Tax holiday: Residential hotel having facility of three star or more. b)Accelerated depreciation: Accelerated depreciation on cost of machinery is admissible for new industrial undertaking in the first year of commercial production 50%, in the second year 30% and in the third year 20%. )Income derived from any Small and Medium Enterprise (SME) engaged in production of any goods and having an annual turnover of not more than taka twenty four lakh is exempt from tax. d)Industry set up in EPZ is exempt from tax for a period of 10 years from the date of commencement of commercial production. e)Income from fishery, poultry, cattle breeding, dairy farming, horticulture, floriculture, mushroom cultivation and sericulture are exempt from tax up to 30th June, 2011, subject to investing at least 10% of the exempted income that exceeds one lakh Taka, in government bonds. National Board of Revenue (NBR), Bangladesh. Page 22 of 31 f)Income derived from export of handicrafts is exempted from tax up to 30th June, 2011. )An amount equal to 50% of the income derived from export business is exempted from tax. h)Listed companies are entitled to 10% tax rebate if they declaredividend of 20% or more. i)Income from Information Technology Enabled Services (ITES) business is exempted up to 30th June, 2011. Avoidance of Double Taxation Agreement: There are agreements on avoidance of double taxation between Bangladesh and 28 co untries which are:- (01) United Kingdom of Great Britain and Northern Ireland (02) Singapore (03) Sweden (04) Republic of Korea (05) Canada (06) Pakistan (07) Romania (08) Sri Lanka (09) France (10) Malaysia (11) Japan (12) India (13) Germany 14) The Netherlands (15) Italy (16) Denmark (17) China (18) Belgium (19) Thailand (20) Poland (21) Philippines (22) Vietnam (23) Turkey (24) Norway (25) USA (26) Indonesia (27) Switzerland (28) Oman. National Board of Revenue (NBR), Bangladesh. Page 23 of 31 Steps for collecting Income Tax in Bangladesh Submission of income tax returns is generally due by: > 30th September in case of non-companies and > 31st December in case of companies. Assessment is made in several procedures. They are: ? Self assessment ? Presumptive assessment ? Spot assessment ? Pre-audit based assessment. However, certain percent of self assessment cases are selected for audit.Assesses can prefer appeal if aggrieved by his assessment. There are three primary forums for a ppeal. They are to the Appellate Commissioner/Additional Commissioner/Joint Commissioner or to the Commission for reviews. The decisions of Appellate Commissioner/Additional Commissioner/Joint Commissioner can be challenged to the next Appellate Court named as Appellate Tribunal. Withholding tax is levy able on a number of items including contractors, imports, transfer of urban land/building, bank deposits etc. National Board of Revenue (NBR), Bangladesh. Page 24 of 31 Procedure of Assessment Generally the followings steps are followed in case of Assessment of theCompany and the Corporation: Step-1 Computation of Business Income Step-2 Computation of Total Income Step-3 Determination of Total Tax Liabilities Step-4 Determination of Net Tax Liabilities According to Sections 28, 29 and 30 of ITO, 1984 Income from business is to be calculated after considering admissible and inadmissible expenses to this end. Total Income of the Company is to be calculated by adding other income with i ncome from business. Total Tax liabilities are to be determining by applying prescribed tax rate. Net Tax liability is to be ascertained by deducting the following tax rebate from Total Tax liabilities: >10% Tax rebate on foreign income Tax rebate on increased production in case of industrial company, if applicable. >Tax rebate on export income (at rate applicable) >Tax rebate and average rate on tax free income. National Board of Revenue (NBR), Bangladesh. Page 25 of 31 Problems for collecting Income Tax Tax avoidance is one of the main problems for collecting Income Tax by the Income Tax Authority in Bangladesh. It is the legal utilization of the tax regime to one's own advantage, in order to reduce the amount of tax that is payable by means that are within the law. By contrast tax evasion is the general term for efforts to not pay taxes by illegal means. The term tax mitigation is a synonym for tax avoidance.Its original use was by tax advisors as an alternative to the pejorative term of tax avoidance. Latterly the term has also been used in the tax regulations of some jurisdictions to distinguish tax avoidance foreseen by the lawmakers from tax avoidance which exploits loopholes in the law. Based on these concepts arises the pillars of Tax Protesters as well as Tax Resistance: Some of those attempting not to pay tax believe that they have uncovered interpretations of the law that show that they are not subject to being taxed: these individuals and groups are sometimes called tax protesters. An unsuccessful tax protestor has been attempting openly to evade tax, while a successful one avoids tax.Tax resistance is the declared refusal to pay a tax for conscientious reasons (because the resister does not want to support the government or some of its activities). Tax resistors typically do not take the position that the tax laws are themselves illegal or do not apply to them (as tax protesters do) and they are more concerned with not paying for particular gover nment policies that they oppose. National Board of Revenue (NBR), Bangladesh. Page 26 of 31 Responses to tax avoidance: Avoidance also reduces government revenue and brings the tax system into disrepute, so governments need to prevent tax avoidance or keep it within limits. The obvious way to do this is to frame tax rules so that there is no scope for avoidance. In practice, this has not proved achievable nd has led to an ongoing battle between governments amending legislation and tax advisors' finding new scope for tax avoidance in the amended rules. Tax evasion: By contrast, tax evasion is the general term for efforts by individuals, firms, trusts and other entities to evade taxes by illegal means. Tax evasion usually entails taxpayers deliberately misrepresenting or concealing the true state of their affairs to the tax authorities to reduce their tax liability, and includes, in particular, dishonest tax reporting (such as declaring less income, profits or gains than actually earn ed; or overstating deductions). Illegal income and tax evasion:Who earn income by illegal means (gambling, theft, drug trafficking etc. ) is required to report unlawful gains as income when filing annual tax returns. Suspected lawbreakers have therefore been charged with tax evasion when there is insufficient evidence to try them for their non-tax related crimes. Other times, tax evasion can be used as a â€Å"one more nail in the coffin† by prosecutors by stating that if a person earns illegal income, s/he may also be guilty of tax evasion. Those who attempt to report illegal income as coming from a legitimate source could be charged with money laundering. National Board of Revenue (NBR), Bangladesh. Page 27 of 31 Evasion of Value Added Tax (VAT):During the latter half of the twentieth century, Value Added Tax (VAT) has emerged as a modern form of consumption tax through the world. Producers who collect VAT from the consumers may evade tax by under-reporting the amount of sa les. Control of evasion: Level of evasion depends on a number of factors one of them being fiscal equation. People's tendency to evade income tax declines when the return for due payment of taxesisnotobvious. Evasionalsodependsontheefficiencyofthetax administration. Corruption by the tax officials often render control of evasion difficult. Tax administrations resort to various means for plugging in scope of evasion and increasing the level of enforcement.Public opinion on tax avoidance: Tax avoidance may be considered to be the dodging of one's duties to society, or alternatively the right of every citizen to structure one's affairs in a manner allowed by law, to pay no more tax than what is required. Attitudes vary from approval through neutrality to outright hostility. Attitudes may vary depending on the steps taken in the avoidance scheme, or the perceived unfairness of the tax being avoided. Corruption by tax officials: Corrupt tax officials cooperate with the tax payers who int end to evade taxes. When they detect an instance of evasion, they refrain from reporting in return for illegal gratification or bribe.Corruption by tax officials is a serious problem for the tax administration in a huge number of underdeveloped countries. National Board of Revenue (NBR), Bangladesh. Page 28 of 31 The distinction in various jurisdictions of Tax Evasion and Tax Avoidance: The use of the terms tax avoidance and tax evasion can vary depending on the jurisdiction. In general, the term â€Å"evasion† applies to illegal actions and â€Å"avoidance† to actions within the law. The term â€Å"mitigation† is also used in some jurisdictions to further distinguish actions within the original purpose of the relevant provision from those actions that are within the letter of the law, but do not achieve its purpose. National Board of Revenue (NBR), Bangladesh. Page 29 of 31 ConclusionThough the rate of tax revenue is to GDP is very negligible, despite the gover nment is trying to maximize its tax revenue through different method. But the government should also remind the cannon of convenience while collecting tax from assesses. As we are living in a civilized society – should come forward to pay taxes to government in order to conduct the administrative, defense and development activities of the country. Otherwise we would not be able to prove ourselves as civilized people. Tax is the most important in the hand of the government to control the economy as well as the inflection. It also helps in push money to the economy, develop certain source of the economy and control some other activities of the economy.No Government can run it’s and perform administration works without collecting tax as a source of revenue. So, the Government imposes tax over the company and the corporations. On the other hand Government can also intensive to the infant and certain basic industry for protection through its tax policy. National Board of Re venue (NBR), Bangladesh. Page 30 of 31 ? The End ? National Board of Revenue (NBR), Bangladesh. Page 31 of 31 ———————– [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [? ] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic] [pic]