Re-fix excise duties | The Daily Star
12:00 AM, February 06, 2020 / LAST MODIFIED: 12:19 AM, February 06, 2020

Re-fix excise duties

The current system for excise duty from bank accounts is unfair. Since July 2017, Tk 2,500 is charged as excise duty from a bank account maintaining a balance of more than Tk 1 million even for a single day over the year. If it is equal to or less than Tk 1 million, the excise duty will be Tk 500 only. But quite irrationally, the next slab is fixed at five times more than the previous one. It would be better to re-fix the duty at Tk 1,000 for a balance of more than Tk 1 million up to Tk 5 million, and Tk 2,500 for a balance of more than Tk 5 million. It is also unwise to impose excise duty on loan accounts. As it is, a borrower of a bank already has to pay numerous charges. An excise duty on that loan account causes additional financial burden. The government should reconsider exempting the excise duty on loan accounts. In the meantime, it will be great if the excise duty is calculated based on the average balance of the year instead of the existing system.

 

Md Mojammal Hoque,

Fatickchari, Chattogram.

 

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