State and Scope of Property Taxation in Bangladesh
Section 2: Selected Global Practices of Property Tax
ā Based on the importance in developed nations, three specific property taxes have been analysed in
depth for selected OECD, Asian and African countries - with the aim to replicate their property tax
structure and reforms in Bangladesh over the course of time
Types of Property Tax
Holding/ Municipal tax
Land development tax
Inheritance tax
Definition
Tax that is imposed on building, parcel of land and
building, machinery and/or equipment and paid by
the owners
Tax that is imposed on land (or land and its
improvement) and paid by the owners
Tax that is levied on the transfer of property and
financial assets to heirs of deceased person and paid
by the heirs or other beneficiaries.
Selected countries
UK, USA, Canada, Australia, Denmark, Sweden, Norway,
Iceland, Finland, China, India, Pakistan,
Philippines, Tanzania
Australia, Denmark, China
USA, UK, Denmark, Iceland, Finland, Philippines
*** The three taxes have been named and categorised by their definition in terms of 'tax base' and category used in Bangladesh. But they are known in other names in other
countries. For instance, in some countries the 'holding tax' is known as property tax (in USA, Canada, Norway, Iceland India, Pakistan, Tanzania), council tax (in UK), council
rate (in Australia), property value tax (in Denmark), municipal and national property tax (in Sweden), real estate tax (in Finland and China) and real property tax (in
Philippines)
ā The three taxes have been analysed through the lens of five major components/tools of property tax
system - tax base, tax exemption, valuation/assessment, tax rate and administration
State and Scope of Property Taxation in Bangladesh
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