Bangladesh Bank has reduced the fees for income tax payments made through internet banking, debit or credit cards, and mobile financial services, or MFS.The new fees will now be Tk 20 for transactions up to Tk 25,000 and a maximum of Tk 50 for payments above that amount.For MFS or payment service providers, or PSP, wallets, a fee of 1 percent of the transaction amount, up to a maximum of Tk 30, will be applied, including value-added tax, or VAT.The new fee structure was communicated to all banks, MFS, and PSPs across the country through a letter from the central bank on Wednesday.The move follows a request by the National Board of Revenue, or NBR, to reduce higher charges on online tax payments.Earlier, a fee of 1.6 percent was charged on debit and credit card payments, while MFS users had to pay a general transaction fee.On Oct 27, the NBR sent a letter to Governor Ahsan H Mansur, urging a reduction in the fees.As part of ongoing reforms, from this year, all government employees in Dhaka North City Corporation, Dhaka South City Corporation, Narayanganj, and Gazipur city corporations, as well as employees from scheduled banks, mobile phone operators, and certain multinational companies, will be required to file their income tax returns online.Paper-based tax returns will no longer be accepted for these individuals, said NBR chief Abdur Rahman Khan.A Bangladesh Bank official told bdnews24.com that the reduction in fees aims to make online tax payments more accessible and convenient for taxpayers. —bdnews24.com

Source: bd News24 November 15, 2024 00:00 UTC