Bangladesh’s central bank, Bangladesh Bank, has announced in Circular No.9 dated 13 November 2024, that it has reduced the fees associated with income tax payments made via internet banking, debits or credit cards, and mobile financial services (MFS) like Bkash and Rocket.
This initiative follows after Bangladesh’s tax authority, the National Board of Revenue (NBR) urged the central bank’s Governor Ahsan H Mansur to reduce the fees for online tax payments.
The NBR introduced the online return filing system for taxpayers on 9 September 2024 for the tax year 2024-25.
Under the new fee structure, BDT 20 will be charged for transactions up to BDT 25,000 and a maximum of BDT 50 for transactions exceeding BDT 25,000.
A 1% fee of the transaction amount will be applied (capped at BDT 30), including VAT, for MFS or PSP wallets.
Previously, debit and credit card payments incurred a 1.6% fee, while MFS users faced a general transaction fee.
