Rate of excise duty likely to be changed: Muhith

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excise duty

MNA Business Desk: Finance minister Abul Maal Abdul Muhith on Wednesday said the decision whether the proposed excise duty on bank deposits will be withdrawn or reduced will be taken after discussion in parliament.

“Jatiya Sangsad is now discussing the proposed duty and on the basis of the discussion, the rate of excise duty is likely to be changed,” he told journalists after a meeting of the Cabinet Committee on Government Purchase (CCGP) at the Cabinet Division in the capital.

Muhith also said the duty on bank accounts is not a new thing as there was such duty before, reported news agency.

While placing the national budget for the next fiscal on 1 June, the finance minister proposed imposition of Tk 800 excise duty instead of existing Tk 500 in cases where the balance, whether debit or credit, exceeds Tk 1 lakh but does not exceed the limit of Tk 10 Lakh.