Bangladesh Bank Simplifies Online Tax Payment Costs

Industry: Bank, Financial
Company: Bangladesh Bank
Company Intelligence Tag: Regulatory Insights

Bangladesh Bank has introduced fixed fees for income tax payments made through various online payment methods, as outlined in a notification from the Payment Systems Department on Wednesday. Taxpayers using credit cards, debit cards, or internet banking will incur a charge of Tk 20 for payments below Tk 25,000, while payments above this threshold will be charged Tk 50. For transactions through mobile financial services (MFS) or payment service providers (PSP), a fee of one percent of the transaction amount or a maximum of Tk 30 (including VAT) will apply.

The central bank’s move aims to encourage more taxpayers to utilize online payment channels for filing income taxes. Previously, taxpayers paid a 1.6% fee for online payments. The notification also specifies that there will be no chargeback option for these transactions. The National Board of Revenue (NBR) launched the online return filing system on September 9, allowing taxpayers to use internet banking, debit/credit cards, and MFS/PSP wallets for income tax payments.

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