Excise duty now Tk 50,000 for a bank deposit worth Tk 5cr

From now on, if you deposit Tk 5 crore in your bank account, you will have to pay Tk 50,000 as excise duty. In other words, if a client deposits Tk 5 crore in his or her account any time of the year, a sum of Tk 50,000 will be deducted from the fund, which was Tk 40,000 earlier.

The proposal was made by Finance Minister AHM Mustafa Kamal while presenting the national budget for the fiscal year 2022-23 in parliament on Thursday afternoon.

The finance minister said the excise duty of Tk 40,000 is applicable now on bank status (any time of the year) for a deposit of Tk 5 crore. “I am proposing to fix excise duty at Tk 50,000 instead of Tk 40,000 on bank status above Tk 5 crore only.”