State and Scope of Property Taxation in Bangladesh
Tax Base
Tax Exemption
Valuation
Tax Rate
Administration
Section 2: Selected Global Practices of Property Tax
Holding/Municipal Tax
Both land and building [in USA (New York), Canada, Australia (South Australia), Denmark, Sweden, Norway, Finland, India, Pakistan (Punjab)]
Only residential buildings ( in UK)
Residential, industrial, and commercial buildings (in Iceland and Tanzania)
Only residential buildings within cities, county towns, administrative towns, and industrial and mining districts (in China)
Residential, industrial and commercial buildings, land, machinery and equipment (in Philippines)
Properties owned by the government or local authority, used for religious and charitable organisations, and public utilities are exempted in all the
selected countries. Apart from these,
Properties of Diplomat, full-time student ( in UK)
□ Properties of widows and widowers ( in Denmark)
☐ Properties of low-income households and senior citizens ( in Canada, Iceland)
ㅁㅁ
Agricultural lands and forests (in Norway, Sweden, Finland)
Property used for pollution control ( in Philippines)
Based on capital value system and the taxable value of property is determined by multiplying the assessment ratio [in USA (New York), UK, Canada,
Australia (South Australia), Denmark, Sweden, Norway, Iceland, Finland, Philippines, Tanzania]
Assessment ratio is the percentage (30%) that is imposed on the total value of property (1 lac) to find the taxable portion (70 thousand) of the
property
Based on rental value system [in India, Pakistan (Punjab)]
Based on both capital and rental value (in China)
Classified rate based on the type of building (Residential, industrial, and commercial) [in UK, USA (New York), Canada, Australia (South Australia),
Sweden, Norway, Finland, India]
Flat rate on assessed value of property [in China, Pakistan (Punjab), Philippines, and Tanzania]
Progressive rate on assessed value of property (in Denmark)
Assessment, tax collection, and expenditure of revenue is administered by local or provincial authority [in UK, USA (New York), Canada, Australia
(South Australia), Norway, Finland, India, Pakistan (Punjab), Philippines, and Tanzania]
Assessment, tax collection, rate determination is administered by the central tax agency, revenue is distributed among central and local
government by a certain percentage ( in Denmark, Sweden)
State and Scope of Property Taxation in BangladeshView entire presentation