The National Board of Revenue has published a gazette imposing a five percent tax at source for family savings certificate up to Tk 500,000 investment and 10 percent for higher amount.
The tax regulator issued the gazette on Aug 28 before publishing it on Sunday (Sept 1).
The tax, however, would be applicable from Jul 1, Finance Minister AHM Mustafa Kamal previously told the media.
The new tax was imposed considering the fixed income population who would most be affected by the new rate, according to the minister.
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.