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POST TIME: 11 September, 2019 09:38:48 PM
5 per cent tax on savings certificate worth Tk 5 lakh
BSS, Dhaka

5 per cent tax on 
savings certificate worth Tk 5 lakh

The government has taken a decision to cut 5 per cent tax on the interest earnings from investment of up to Tk 5 lakh in savings certificates.

As per the gazette of the Internal Resource Division under the Finance Ministry, Bangladesh Bank (BB) today instructed all banks and Financial Institutions (FIs) to cut 5 per cent tax instead of 10 per cent on the interest earnings from the investment up to Tk 5 lakh.

However, there will be no change of 10 per cent tax at source for the savings instruments over Tk 5 lakh.

In the budget for the fiscal 2019-20, the government doubled the tax at source on interest earnings from savings certificates to 10 per cent.