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12 September, 2019 00:00 00 AM

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5 per cent tax on savings certificate worth Tk 5 lakh

BSS, Dhaka

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.

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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