All in all, Bangladesh’s aspiring middle class appears to be bearing the brunt of the FY2017-18 budget’s ambitious revenue targets. Even savings beyond Tk1 lakh are going to face an additional excise duty, a move that might make putting money in banks a financial loss. Despite all the growth, middle class consumers will face added costs whenever they try to trade up to things that might make for a better life. He proposed an excise duty on bank accounts that have had debit or credit of Tk1 lakh or above at any point in a year. Air travel will become costlier, with excise duty on air tickets to Asian countries outside of Saarc rising to Tk2,000 instead of the existing Tk1,000.

Source: Dhaka Tribune June 01, 2017 19:07 UTC