Savings certificates
A press release quoting Honourable Finance Minister about tax deduction on savings certificates appeared in The Daily Star on July 9, 2010. It caught my attention. In his explanation, the Honourable Finance Minister said "...the new tax rate introduced in this fiscal year would not apply to the savings certificates that matured before July 1, 2010." A statement by an official of the NBR has made it all clear. It said, "It was clearly stated in the money bill that the new decision would not be effective for the certificates that matured before July 1."
If this is so, why then we continue to suffer at the hands of the relevant authorities, for instance, the Post Offices and/or the Savings Bureau. When approached, they expressed their helplessness in the matter. In the absence of a clear government order to them in this regard, they are not able in any way to have our claims met.
I hope and pray that this would be looked into by the Ministry of Finance and the NBR so that we will not be harassed any more.
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