Bangladesh Bank has reduced the cost of income tax payment by using any of the bank's cards, internet banking and mobile banking services (MFS). Bangladesh Bank has issued a notification regarding this on Wednesday (November 23). According to the new decision of the central bank, from now on, if the income tax is paid through card and internet banking, a fee of 20 taka per transaction will be charged from customers for transactions up to 25 thousand taka. If more than 25 thousand rupees, maximum 50 rupees can be collected per transaction.
In case of using MFS or PSP (Transaction Service Provider) wallets, a fee of 1 percent or a maximum of Tk 30 per transaction will be charged. This fee is inclusive of Value Added Tax (VAT).
Earlier, on October 27, the National Board of Revenue (NBR) had sent a letter to Bangladesh Bank Governor Ahsan H Mansoor saying that higher rates of fee are being deducted for payment of income tax through card, internet banking and MFS/PSP.
In the letter, NBR requested to reduce the tariff. The central bank has issued new guidelines based on that request.
Incidentally, according to a Bangladesh Bank notification issued on October 18, 2021, a fee of 1.6 percent was being charged for paying income tax through debit and credit cards.
NBR mentioned in the letter, due to high fees, there is a hindrance in payment of income tax through electronic mode (e-return). NBR proposes to keep the fee at a maximum of Rs.20.
NBR has opened online return filing system from September 9 to facilitate return filing and tax compliance for the current tax year 2024-25.
