Finance Minister AMA Muhith has proposed to increase the excise duty on bank accounts with large debit or credit balance in the fiscal 2017-18 to boost revenue collection.

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Accounts with balance between Tk 1 lakh and Tk 10 lakh at any time of a year has been proposed to be brought under a duty of Tk 800 excise tax from existing Tk 500 per annum.

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The finance minister, however, was against impose of any excise duty on the accounts where the balance, whether debit or credit does not exceed the limit of Taka 1 Lakh at any point of a year.

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Similarly, Tk 2,500 per annum will be imposed instead of existing Taka 1,500 in cases where the balance exceeds Tk 10 Lakh but does not exceed the limit of Taka 1 crore.

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Tk 12,000 will be imposed instead of existing Tk 7,500 in cases where the balance exceeds Tk 1 crore but does not exceed the limit of Tk 5 crore and Tk 25,000 will be imposed instead of existing Tk 15,000 in cases where the balance exceeds Tk 5 crore.