Tk 150 excise duty for bank deposits above one lakh up to five lakh

After drawing a widespread flak, the government has suggested the Finance Minister to keep the excise duty at Tk 150 for bank accounts with above Tk 1,00,000 up to Tk 5,00,000.


Prime minister Sheikh Hasina said this while addressing the parliament on Wednesday afternoon taking part in the budget discussion.


The premier also told that realising VAT and taxes is essential to make Bangladesh self-reliant.


The government incorporated the new slab of the excise duty on bank accounts of small savers following widespread criticism over a proposed hike in the budget for the fiscal year (FY) 2017-18.


Earlier, the excise duty was at Tk 500 for the range of Tk 1,00,000 to Tk 5,00,000. Which was increased to Tk 800 in the proposed budget.

Now, it has been reduced to Tk. 150 as peoples from all walks of life criticized the decision of increasing excise duty for bank deposits.

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