The Bangladesh government reportedly plans to increase excise duty on high-value bank deposits in the fiscal year 2024-25.
Low- and middle-income depositors will maintain current rates, but higher-income individuals will see increased rates.
The excise duty on deposits between BDT 100,001 and BDT 10 million may rise from BDT 3,000 to BDT 5,000; deposits between BDT 10 million and one and BDT 20 million may rise to BDT 10,000; and BDT 20 million and one to BDT 50 million may rise to BDT 20,000.
Related Posts
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
Read More
The National Board of Revenue (NBR) issued a notification outlining amendments to the capital gains tax provisions under the Income Tax Act 2023 (ITA 12), lowering the rate to 15% for gains above BDT 5 million, on 4 November 2024 Capital gains
Read More Bangladesh tax authority National Board of Revenue (NBR) announced that it will conduct its first transfer pricing audit of multinational companies (MNCs) operating in the country. Bangladesh first introduced transfer pricing provisions in the
Read More The National Board of Revenue (NBR) in Bangladesh is planning to phase out its non-refundable minimum tax system according to local sources, a move aimed at aligning with global tax standards and encouraging investor confidence. The NBR plans to
Read More Representatives from Bangladesh and Uganda met to discuss bilateral cooperation and the need for an income tax treaty on Thursday, 17 October 2024. Joyce Kakuramatsi Kikafunda, the Non-Resident High Commissioner of Uganda to Bangladesh, made a
Read More
Hong Kong’s Chief Executive in Council issued an Order to implement tax treaties with Armenia, Bahrain, Bangladesh, Croatia, and Turkey on 23 October 2024. The Order for signing tax treaties with Armenia, Bahrain, Bangladesh, Croatia, and
Read More
