Govt doubles source tax on savings certificate earnings
The finance minister had recommended increasing the tax during his budget speech on June 13
The government has imposed a 10 percent tax at source on profit earnings from savings certificates, increasing it from the previous rate of 5 percent.
Prime Minister Sheikh Hasina did not announce any changes to the proposed tax hike during the approval of the finance bill by parliament on Saturday.
Finance Minister AHM Mustafa Kamal had recommended increasing the source tax on savings certificate profit earnings to 10 percent in his proposed budget for the fiscal year 2019-20 on June 13.
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