‘Excise duty on bank accounts balance won’t hurt poor’  
June 2nd, 2017 at 10:28 pm
‘Excise duty on bank accounts balance won’t hurt poor’  

Dhaka – Finance Minister Abul Maal Abdul Muhith has said those who deposit 100,000 taka to their bank account are enough affluent in the society as he proposed minimum 800 annual taka excise on bank account holders having balance up to Tk 1 million.

The minister, to a question while addressing post-budget press conference in Dhaka’s Osmani Memorial Hall, said that he would not revise his proposal.

Any accounts with balance between Tk 1 lakh and Tk 10 lakh has been proposed with Tk 800 excise tax at any time of a year.

“I know the people who keep Tk 100,000 or more into their bank accounts are capable of giving the excise duty,” the minister said adding that although it was difficult to define the rich people.

He said the poor will not be victimized from the increased excise duty on bank account balance.

The existing excise duty for account holders having deposit between Tk 20,000 and Tk 100,000 is Tk 150.

To a question on price hike of rice, Muhith said the price has gone up recently because of the impact of two back to back natural calamities.

“There is no impact of the proposed national budget,” he said adding that the government has order rice import to keep the market stable.

The finance minister on Thursday proposed a budget of Tk 400,266 crore for the 2017-18 financial year.