Regulatory Alerts2020-09-10
Added · Updated
DMD Circular Letter No. 06: Regarding Auto Reinvestment in 5-Years Term Bangladesh Schanchyapatra
Scheduled banks operating in Bangladesh must deduct tax at source on profits from the auto-reinvestment of 5-year term Bangladesh Savings Certificates based on the accumulated investment amount. If the total investment (principal plus net profit) exceeds BDT 500,000 at the time of profit payment, a 10% withholding tax applies; otherwise, a 5% rate is applied. This directive aligns with National Board of Revenue decisions effective from July 1, 2019.
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