Banks Have Deducted Excise Duty from Client’s Account

As per the National Board of Revenue (NBR)’s directive, all the commercial banks have deducted excise duty from customers’ accounts whose minimum balance reached Tk 1 lakh within 2021.
 
If the balance of customers’ bank accounts reached Tk 1 lakh within the year, banks would cut minimum excise duty of Tk 150.
 
According to the instruction, the banks have been deducting the excise duty from the calendar year (January-December), on behalf of the National Board of Revenue (NBR). It is then deposited to the government treasury. This year too it has been done. After deducting the duty, they deposited it to the government treasury.
 
Last year (2020), NBR collected excise duty around Tk 2,500 crore.
 
At present, the excise duty rate for Tk one lakh to Tk 5 lakh is Tk 150, Tk 5 lakh to Tk 10 lakh is Tk 500.
 
Besides, excise duty of Tk 10 lakh to Tk 1 crore is Tk 3,000, while the duty is fixed at Tk 15,000 for the amount of customers’ bank accounts between Tk 1 crore and Tk 5 crore.
 
The NBR imposed the excise duty of Tk 40,000 for the amount of Tk 5 crore onward.