Muhith won’t reconsider excise duty on bank account
The decision of imposing excise duty on bank account in the proposed budget will not be cancelled as the people who keep Tk 1 lakh or its up in bank are affluent enough in the society, Finance Minister AMA Muhith said today.
Accounts with balance between Tk 1 lakh and Tk 10 lakh may be slapped with Tk 800 excise tax at any time of a year.
“It is very difficult to give a definition of rich men. But I know the people who keep Tk 1 lakh or more into their bank accounts are capable of bearing the expenditure of the excise duty,” Muhith said at a post-budget press conference in the capital’s Osmani Memorial Auditorium this afternoon.
Responding to a query, he said the price of rice has gone up recently due to the impact of the natural calamity instead of the impact of the proposed national budget.
“We will control the market through importing rice,” he added.
Responding to a query about 15 percent uniform VAT, the finance minister again claimed that the prices of goods will not go up as a total of 1043 products have been kept out of purview of the VAT.
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