Finance Minister in parliament
Excise tax not new but the rate been increased slightly
Referring his proposal to impose tax on bank deposits, Finance Minister AMA Muhith today said it has been elevated for several years and the tax rate will be increased slightly in the next fiscal.
“It is not new tax rather people have been paying this for several years. Next time, I have increased it slightly,” Muhith said responding to criticism from Jatiya Party lawmakers over imposing excise duty on bank deposits in the Parliament this noon.
Excise tax on all type of bank deposits including deposit pension scheme, fixed deposits has been increased 67 percent on an average in various ceilings in the next year.
Jatiya Party lawmaker Kazi Feroz Rashid asked why people will keep money in the bank? “If one keeps Tk one lakh after three months he will not get back the full amount.”