Government’s revenue collection from the Dhaka Stock Exchange fell by 17.14 per cent during the first four months of the current financial year 2016-17 compared with that of the previous year.
The National Board of Revenue’s collection from the bourse dipped to Tk 45.85 crore in taxes in July-October of FY17 from Tk 55.34 crore during the same period of FY 16 because of the fall in daily turnover at the bourse.
The NBR collects taxes on turnover at brokerage houses and capital gains from share sales by sponsor-directors and placement holders.
Under the Income Tax Ordinance 1984, the DSE collects 0.05 per cent tax on turnover and 5 per cent tax on capital gains.
According to DSE website data, total turnover at the bourse was Tk 35,452 crore in July-October in FY17 with daily average turnover of Tk 472.70 crore against Tk 38,468 crore and Tk 493.18 crore respectively in the same period of previous year.
In October this year, government’s revenue collection from the bourse also fell by 10.36 per cent to Tk 15.62 crore compared with that of Tk 17.43 crore in October last year.
Tax collection in October, however, increased by Tk 4.75 crore reaching Tk 15.62 crore compared with NBR’s Tk 10.87 crore tax collection from the bourse in September.
Want stories like this in your inbox?
Sign up to exclusive daily email
More Stories from Tax