Saving certificates
A lot has been said about saving certificates in different newspapers. In those write-ups the writers explained how it is affecting the lives of pensioners, widows and senior citizens and they also discussed the anomalies of Bangladesh Bank regarding the deduction of 10 per cent tax on certificates that matured prior to July 01, 2010. But none of our problems have been addressed despite the assurances given by the Honourable Finance Minister.
I have the following suggestions to the government in the interest of general public:
1. In view of the inflation and enhanced cost of living the income tax ceiling should be raised to Tk 3 lakh from Tk.1.65 lakh.
2. The interest rate of saving certificates for pensioners, widows and senior citizens should be enhanced to 20 percent without any tax deduction.
3. Provisions should be there to refund the excess amount of tax, if any, that is being deducted from the citizens in the form of income tax, VAT or AIT. Such provisions are prevalent in many developed countries.
I do hope the policymakers find some spare time to go through these columns where our genuine problems are being highlighted and address the issues in the greater interest of those whose survival is at risk.
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