Published 2012
“…After a more careful analysis, however, the positive incentives for under-invoicing can be explained by reasons such as black market premium (BMP) in foreign exchange markets or domestic
tax evasion (among other factors). Even though BMP has been declining in Bangladesh over time, the incentives to evade domestic taxes (particularly with a nonlinear tax schedule and inclusion of subsidies on the inflow side of a firm’s balance sheet) remain strong, bolstered by weak enforcement.…”
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