The commercial banks of the country are depositors on submission their tax identification number (TIN) they warn itself urgently, so that to avoid withdrawal of the additional 5.00% withholding tax or income tax (AIT) on their interest income from deposits.
A number of banks already notified their depositors through text messages on their mobile phones, particularly on Wednesday, said urge their TIN certificates by the National Board of revenue (NBR), as quickly as possible the withdrawal of the AIT at an increased rate of 15 percent, instead of earlier 10 percent in all cases prevent, Bank officials and depositors.
Finance Minister Abul time Abdul Muhith in his budget speech in June said withholding tax in the amount of 15%, rather than the existing 10 per cent at the time of payment interest on deposits, which would be deducted not with Tin certificates.
"Under the circumstances depositor's tax of 15 per cent to the Government with effect from July 1 after all numbers when he or she presents not the Tin certificate urgently or before adjusting their savings or deposit accounts next December," says a senior bank official FE Wednesday.
Who TIN certificates have, would be the withholding tax at the standard rate of 10 per cent.
Depositor has the TIN certificate, is AIT was deducted as before of the case in the amount of 10 per cent of the source. He or she need not to pay additional 5.0 percent tax, according to the budget document of the current financial year.
Source: thedailystar.net
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