TIN Mandatory for Bank Accounts

The proposed national budget for the 2026–27 financial year introduces a significant regulatory shift in the country’s banking sector, making the submission of a Tax Identification Number (TIN) certificate compulsory for opening most types of bank accounts. However, the new requirement will not apply universally, as students and certain exempt categories will remain outside its scope.

According to the budget proposal, student accounts and so-called “no-frills” accounts—designed to provide simplified banking access for low-income or financially excluded individuals—will be exempt from the TIN requirement. In addition, individuals formally exempted through official gazette notifications issued by the National Board of Revenue (NBR) will also not be required to submit a TIN when opening new accounts.

For all other applicants, the TIN certificate will become a mandatory document at the account-opening stage. The policy is intended to strengthen tax compliance, broaden the tax net, and reduce opportunities for tax evasion by improving financial traceability across the banking system.

Alongside this measure, the government has announced plans to significantly enhance the use of digital systems in tax administration. A central data integration framework will be developed to connect the NBR’s national database with multiple public and private service platforms. These will include the National Identity database, banking institutions, utility service providers such as electricity, gas, and water companies, as well as land registration and sub-registry offices. The objective is to create a more unified information ecosystem that allows better monitoring of income flows and asset ownership.

The budget is scheduled to be presented in parliament by the Finance Minister, Amir Khosru Mahmud Chowdhury, in the presence of Prime Minister Tarique Rahman. The sitting will be presided over by Speaker Hafiz Uddin Ahmed. This will be the 55th national budget and the first presented by Amir Khosru in his current tenure as finance minister.

The proposed budget for the 2026–27 fiscal year is set at Tk 9.38 trillion. Of this, Tk 6.95 trillion is projected to be generated through revenue collection, leaving a deficit of Tk 2.43 trillion. To bridge this gap, the government plans to rely on both domestic and external financing sources, including foreign loans and grants as well as internal borrowing.

A substantial portion of domestic financing will come from the banking sector, alongside contributions from savings instruments and other financial channels. The fiscal plan also outlines the following breakdown:

Budget Overview (2026–27 Proposed)

Once approved by the cabinet, the budget will be forwarded to the President, who will provide formal assent. The new fiscal year is expected to come into effect on 1 July.