Employees of six state-owned banks in Bangladesh—Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank, Bangladesh Development Bank, and BASIC Bank—will no longer pay income tax on their allowances, excluding basic salary and bonuses, following a recent NBR decision. This tax benefit, effective from a notification issued on August 22, aligns their allowances with those of government employees, who are also exempt from tax on allowances beyond their basic salary and festival bonuses. Previously, the tax department had taxed all allowances for these bank employees. Approximately 40,000 officials and employees across these banks will now receive the same tax exemptions as government employees.
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