106+ Free ICAB PL Business Planning: Taxation and Compliance Practice Questions

A1. Critical aspects of income tax, administration, dispute resolution and ethics

Sources and structure of Bangladesh income tax law and the Income Tax Act 2023, residence and scope of total income, the seven heads of income, income tax authorities and the Taxes Appellate Tribunal, returns, Tax Day and delay interest, universal self-assessment and audit selection, best judgment assessment, appeals to the Commissioner (Appeals), the Tribunal and the High Court Division reference, alternative dispute resolution, and the ethical boundary between tax planning, avoidance and evasion.

A2. Tax planning for individual, business or profession

Computation of income under each head, the employment-income exemption, income from rent and the statutory repair allowance, agricultural income, admissible and inadmissible business expenditure under Sections 49 and 55 (perquisite ceiling, royalty and technical fee limits, entertainment slabs, free sample limits, bank-transfer conditions), Third Schedule normal, initial and accelerated depreciation and amortisation, corporate tax rates by class of company, minimum and turnover tax under Section 163, set-off and carry forward of losses, tax holidays and economic zone, hi-tech park and power sector incentives, withholding tax and advance tax obligations.

A3. International taxation: treaties and transfer pricing

Double taxation relief and treaty principles, the arm's length principle under Chapter XI of ITA 2023, associated enterprises tests, the recognised transfer pricing methods (comparable uncontrolled price, resale price, cost plus, profit split and transactional net margin), transfer pricing documentation, the Statement of International Transactions and the accountant's report.

B. Value Added Tax

The Value Added Tax and Supplementary Duty Act 2012 and Rules 2016, taxable and exempt supplies, zero-rating of exports and deemed exports, the standard 15% rate and reduced and specific rates, registration and turnover tax thresholds, the Business Identification Number, input tax rebate conditions and non-rebatable items, tax invoices and the Mushak forms, VAT deduction at source and withholding entity duties, price and input-output coefficient declarations, monthly returns, Supplementary Duty and the VAT base, and advance tax at the import stage.

C. Customs

Customs valuation under the WTO Valuation Agreement, which Bangladesh implements in full - the transaction value method and the mandatory hierarchy of identical goods, similar goods, deductive, computed and fall-back methods - required additions to the price paid or payable and the exclusion of buying commissions, Harmonized System classification and its effect on duty rates and concessions, the statutory sequence of customs duty, regulatory duty, supplementary duty, VAT and advance tax at import, bonded warehousing and the special bonded warehouse facility, duty drawback, advance rulings and provisional assessment. Governed by the Customs Act 2023, which replaced the Customs Act 1969 with effect from 6 June 2024. Pass 2 added six customs items and grouped all customs questions into their own area; the area still sits below its official 15-20% weighting.