The Bangladeshi government is considering an increase in excise duty as part of the 2023-24 budget proposal. The proposed changes in excise duty rates are outlined as follows:
Current Excise Duty Rates:
Account balance from 1-5 lakh BDT: 150 BDT
Account balance from 5-10 lakh BDT: 500 BDT
Account balance from 10 lakh to 1 crore BDT: 3,000 BDT
Account balance from 1 crore to 5 crore BDT: 15,000 BDT
Account balance above 5 crore BDT: 40,000 BDT
Proposed Excise Duty Rates:
Account balance from 1-5 lakh BDT: 150 BDT (unchanged)
Account balance from 5-10 lakh BDT: 500 BDT (unchanged)
Account balance from 10-50 lakh BDT: 3,000 BDT
Account balance from 50 lakh to 1 crore BDT: 5,000 BDT
Account balance from 1 crore to 2 crore BDT: 10,000 BDT
Account balance from 2 crore to 5 crore BDT: 20,000 BDT
Account balance above 5 crore BDT: 50,000 BDT
These proposed changes are designed by considering the current economic conditions and trying to reduce the inequality of income. The government aims to earn approximately 500 crores from the implementation of this duty.
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