She submitted her tax returns last year. All of them believed that submitting their TIN certificate and their tax return receipt would lower their tax burden on interest. But, anyone with a TIN and up-to-date returns will only face a 1.0 per cent tax deduction. Many people get a TIN and submit tax returns even if their income is below the tax threshold to make use of the incentive. As such, the bank deducted 15 percent of their interest.

Source: bd News24 November 14, 2023 12:58 UTC