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5% source tax for savings tools up to Tk 5 lakh

5% source tax for savings tools up to Tk 5 lakh

Finance Minister A H M Mustafa Kamal on Monday (Jul 29) said that five percent tax at source would be applicable to all types of savings certificates, including family savings certificates, up to Taka 5 lakh investment to facilitate the small savers and pensioners, local media reported.

“We’ll take tax at source at 5 percent rate against all types of savings certificates including family savings certificates up to Taka 5 lakh, and an SRO will be issued soon in this regard making it effective from Jul 1, 2019,” he said.

The Finance Minister was talking to reporters at the Finance Division conference room at Bangladesh Secretariat. National Board of Revenue (NBR) Chairman Md Mosharraf Hossain Bhuiyan was present.