In a move aimed at easing the financial burden on low- and middle-income depositors, the government has proposed exempting bank deposits up to BDT 300,000 from excise duty.
The new threshold marks a significant increase from the current limit of BDT 100,000.
At present, if a bank account balance reaches BDT 100,000 at any point in the year, an annual excise duty is deducted. For balances between BDT 100,000 and BDT 500,000, the current duty is BDT 150.
Under the proposed change for the 2025–26 fiscal year, depositors with up to BDT 300,000 in their bank accounts will no longer be subject to any excise duty or VAT. This measure is designed to provide financial relief to smaller depositors.
Other excise duty slabs will remain unchanged. Currently, excise duties are applied as follows:
BDT 500 for balances between BDT 500,001 and BDT 1,000,000
BDT 3,000 for balances from BDT 1,000,001 to BDT 5,000,000
BDT 5,000 for balances from BDT 5,000,001 to BDT 10,000,000
BDT 10,000 for balances from BDT 10,000,001 to BDT 20,000,000
BDT 20,000 for balances from BDT 20,000,001 to BDT 50,000,000
BDT 50,000 for balances exceeding BDT 50,000,000
These duties are deducted once annually based on the highest balance recorded in an account during the fiscal year.
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