Excise Duty (ED)

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) Click here for more...

PLC (Public Limited Company) Vs Ltd

PLC stands for Public Limited Company. It was Bangladesh Bank's notice to Banks and non-bank financial institutions (NBFIs) to replace their company suffix "Limited" with PLC in order to comply with the Second Amendment-2020 of the Company Act of 1994. The central bank, Bangladesh Bank, has given permission to banks and NBFIs to complete legal procedures to change their company name and the Articles of Association by adding 'PLC' as a suffix in the place of "Limited". Click here for more...