Finance Minister AHM Mustafa Kamal has said five percent tax at source will be applicable for family savings certificate for up to Tk 500,000 investment, effective from Jul 1.
While ten percent at source will be applicable for investment above Tk 500,000 on the family savings certificate, he Kamal said at a media briefing at the secretariat on Monday (Jul 29).
The minister said the decision on tax was taken considering the fixed income population who would most affected by new tax rate.
In the budget for fiscal 2019-20, the government imposed a 5 percent tax at source on the profit on savings certificate along with the previous five percent.