Tax on Saving Tool

Matia criticises finance minister

Special Correspondent

21 June, 2019 12:00 AM printer

Awami League presidium member Matia Chowdhury on Thursday bitterly criticised Finance Minister AHM Mustafa Kamal for imposing tax at source on family saving tool.

“It’s the scheme of the Prime Minister. Why have you imposed tax on it? I can’t support you here,” she told parliament while speaking on the proposed budget for the 2019-20 fiscal year.

“It’s not correct that you will impose tax on legal income,” she said.

The day’s business began at about 3:10pm with Speaker Shirin Sharmin Chaudhury in the chair.

Matia Chowdhury, also former agriculture minister, said that amid pushing from various quarters, the interest rate of saving certificates stands at 9 per cent.

“The finance minister keeps the interest rate 9 per cent but increasing the tax at source to 10 per cent from the existing 5 per cent,” she said.

Chowdhury further said that rural women and distressed people largely depend on it.

“You have provided facilities to various quarters, including the businesses, giving salaries to the teachers, increasing salaries to the government employees, creating opportunities for the government employees for buying vehicles. The owners of the saving certificates are also customers. Why have you touched this sector?” she said.

The Awami League presidium member was critical on the opportunities of whitening black money.

“The businesses are taking benefits in many ways. I must not deny the fact that the government has taken measures to bring the money in the fore,” she said.