Excise duty on bank deposits increasing

Excise duty on bank deposits increasing

Staff Correspondentdaily-bangladesh.com

Published: 21:02 11 June 2020  

File Photo

File Photo

Excise duty will also be collected from those who have a huge amount of money in the bank. However, those who have deposits up to Tk 10 lakh have the same excise duty as before.

Finance Minister AHM Mustafa Kamal has proposed to increase excise duty on banks in the 2020-21 fiscal year budget proposal on Thursday at Jatiya Sangsad.

He said the excise duty on bank deposits from Tk 10 lakh to Tk 1 crore has been increased from Tk 2,500 to Tk 3,000. 

At the time, he proposed to increase the excise duty from Tk 12,000 to Tk 15,000 for more than Tk 1-5 crore and from Tk 25,000 to Tk 40,000 over Tk 5 crore on bank deposits.

However, the excise duty on deposits up to Tk 10 lakh remains unchanged.

DailyBangladesh/AS