Those with bank account balance of over Tk5 crore might have to pay more excise duty next fiscal year as per the new budget proposal.
During the budget session on Thursday, Finance Minister AHM Mustafa Kamal proposed a 25% increase on any bank balance over Tk5 crore.
The excise duty from the 2022-23 fiscal year will be Tk50,000 a Tk10,000 raise from the previous Tk40,000.
According to Bangladesh Bank sources, there were 1,65,951 bank accounts with a balance of Tk1 crore and Tk5 crore in debit or credit at the end of last year.
The number of accounts with balance over Tk5 crore stood at 54,219 last year.
Meanwhile, the National Board of Revenue will reveal that bank accounts serve as the biggest source of excise duty and saw the second-highest growth in collection in the first 10 months of the fiscal year.
Between July last year and April this year, Tk2,811.6 crore was collected as excise duty, 23.6% more than last year.
This fiscal year, the NBR hopes to collect Tk3,685.7 crore in excise duty.