The taxation system in Bangladesh is governed by a complex set of laws and regulations, primarily centered around the Income Tax Ordinance, 1984 and the Value Added Tax (VAT) and Supplementary Duty Act, 2012. The National Board of Revenue (NBR) is the central authority for tax administration in the country. Key aspects of Bangladesh's taxation law include income tax, corporate tax, Value Added Tax (VAT), customs duty, and excise duty. The Income Tax Ordinance, 1984 (with subsequent amendments) provides the legal basis for income taxation. Tax rates vary for individuals, companies, and other entities. Bangladesh follows a progressive tax system for individuals, with rates ranging from 0% to 25% (as of 2021). Corporate tax rates differ based on the nature and sector of the company. For example, publicly traded companies generally have a lower tax rate compared to non-publicly traded companies. Certain sectors like mobile phone operators and cigarette manufacturers have higher tax rates. VAT, introduced in 1991, is a major source of revenue for the government. The VAT and Supplementary Duty Act, 2012 (implemented from 2019) modernized the VAT system. The standard VAT rate is 15%, with reduced rates for certain goods and services. Customs duty, governed by the Customs Act, 1969, is levied on imported goods. Rates vary depending on the type of goods and applicable trade agreements. Excise duty is levied on the production of certain goods within the country, as per the Excise and Salt Act, 1944. Bangladesh offers various tax incentives to promote investment, particularly in sectors like export-oriented industries, power generation, and hi-tech parks. The country has also signed agreements with numerous countries to avoid double taxation, which is particularly relevant for foreign investors.