GOVERNMENT EXCISE DUTY ON CUSTOMER (DEBIT AND CREDIT) ACCOUNTS

We would like to remind you that all the banks operating in Bangladesh are bound to deduct Excise Duty from each of the customer accounts (savings, current, loan or other accounts) held with the bank as per the instruction of National Board of Revenue (NBR) according to NBR’s circular. This means, for example, if a customer maintains a savings account with a bank and also has a loan account; Excise Duty will be applicable on both the accounts separately.

The revised latest SRO (Statutory Regulatory Order) No. 231-Law/2017/318-Excise Dated 01 July 2017 is to be applicable from 01 July 2017.