“Tax Benefit and Social Security in Perspective of Taxation in Bangladesh: A Study”

Abstract

This study examines the complex relationship between social security and tax incentives in the context of taxation in Bangladesh. The purpose of this study is to assess the impact of tax policy on social security policy and the effectiveness of the current framework in promoting social stability and economic prosperity. The research uses a comprehensive methodology that combines legal review of tax legislation, quantitative data analysis and qualitative assessments of surveys. The first part of the study examines the current tax system in Bangladesh, which includes both direct and indirect taxation. It then examines the various tax credits available to both individuals and businesses, focusing on how they affect Social Security programs. Important factors such as income tax exemptions, deductions and allowances are carefully studied to find out how they affect the allocation of resources and how they improve social welfare. The study looks at the ways that tax laws in Bangladesh either help or impede the growth of social insurance programs. In order to do this, tax revenues and the funding of social safety nets, healthcare, education, and other crucial social security components must be balanced. The effectiveness of current tax incentives in encouraging corporate social responsibility and charitable endeavors that advance general social well-being is also evaluated by the study. Finally, this study adds to the ongoing debate on how tax laws in Bangladesh should be optimized to achieve a fair balance between social welfare and economic growth