DHAKA, Sept 11, 2019 (BSS) – The government has taken a decision to cut 5 percent tax on the interest earnings from investment of up to Taka 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 percent tax instead of 10 percent on the interest earnings from the investment up to Taka 5 lakh.
However, there will be no change of 10 percent tax at source for the savings instruments over Taka 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 percent.