Excise Duty (ED) in Bank or Financial Institute:

Excise Duty, most commonly known as ED, is an indirect tax paid to the Government on yearly basis (January-December). The ED is collected by the National Board of Revenue (NBR) in Bangladesh. Bank or Financial Institute deducts the Excise Duty (ED) from customers account once a year and then finally deposited to the government treasury. As per the SRO (Statutory Regulatory Order) No. 162-Law/2022/175-Excise dated 01 June 2022 the ED will be deducted if account balance reaches (at any time during a year for both Credit or Debit Balance, Per Account):

- Balance TK 0 - 100,000/- - Excise Duty in TK will be NIL
- Balance TK 100,000/ - 500,000/- - Excise Duty in TK will be 150/-
- Balance TK 500,001/ - 10,00,000/- - Excise Duty in TK will be 500/-
- Balance TK 10,00,001/ - 10,000,000/- - Excise Duty in TK will be 3,000/-
- Balance TK 10,00,001/ - 50,000,000/- - Excise Duty in TK will be 15,000/-
- Balance TK 50,000,001/ and above - Excise Duty in TK will be 50,000/-

Download Excise Duty SRO-162-175-Dated-1st-June-2022: www.bankingpathshala.com/Excise-duty-SRO-162-175-dated-1st-June-2022.pdf

Published Date: 30/06/2023