FISCAL LAW | ||||
THE BEGINNING
Fiscal Law belongs to that branch of the law, which deals with
imposition, and collection of revenue, taxes, duties and rates etc. The purpose
of Fiscal Law is rising of revenue to augment the fund of the Government to
meet its various expenses. Fiscal law of this country is contained in a number
of tax Income, Sales, Excise, Custom, etc. All tax statutes were adapted by
Republic of Bangladesh after liberation of the country under Bangladesh
Taxation Laws Adaptation Order, 1972. Besides, there are certain other statutes in the field of fiscal law,
which have, behind them, some nobler objects that may term as social and
ethical. These tax statute relate to Capital gains, Wealth, Estate Duty and
Gifts Amusement etc. Though these statutes have the effect of getting revenue
to Government yet the other objective behind the legislations are more social
and ethical and have in view rationalizing the social order by reducing the
inequalities in the distribution of wealth and creating a social order more
acceptable to the nation. Sometime to check inflation in the country, some
other taxes statute operate as temporary measures. They relate to excess
profit, business profit, grains and the like. |
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