BB sets fees for online tax payments to simplify filing

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FE Team | Published: November 14, 2024 00:25:29

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To encourage online income tax payments and easing compliance for taxpayers, Bangladesh Bank has set specific charges for transactions made through cards, internet banking, and mobile financial services (MFS) or payment service provider (PSP) wallets under the e-Return system, reports UNB.
According to the National Board of Revenue (NBR), the charges are as follows:
Card Payments and Internet Banking: For transactions up to Tk 25,000 using locally issued cards or internet banking, customers can be charged a maximum fee of Tk 20, inclusive of VAT. For transactions exceeding Tk 25,000, the maximum fee is Tk 50, inclusive of VAT.
MFS/PSP Wallets: Payments made via MFS or PSP wallets will incur a charge of 1.0 per cent of the transaction amount or a maximum of Tk 30, inclusive of VAT, whichever is lower.
Additionally, no chargebacks will be applicable for these transactions.
The Bangladesh Bank Payment Systems Department issued a circular on Wednesday to all scheduled banks, mobile financial service providers, payment service providers, payment system operators, and international payment schemes operating in the country, instructing them to implement the new fee structure immediately.
The NBR said that the e-Return system for online filing of income tax returns, launched on September 9, aims to simplify tax filing for the 2024-25 tax year.