Tax receipt from DSE doubles to Tk 25cr in Jul

Staff Correspondent | Published: 22:39, Aug 07,2017

 
 

The government’s tax collection from the Dhaka Stock Exchange doubled to Tk 25.18 crore in July compared with that in the previous month mainly due to a rise in turnover on the country’s premier bourse.
The National Board of Revenue received the sum that included Tk 20.92 crore as tax on turnover and Tk 4.25 crore as tax on sponsor-directors’ capital gain from share sales.
In June, the government’s tax receipt from the bourse was Tk 12.30 crore — Tk 10.13 crore as turnover tax and Tk 2.16 crore as tax on sponsor-directors’ capital gain from share sales.
The consolidated turnover on the bourse increased by 106 per cent, or Tk 10,773.08 crore, to Tk 20,929.46 crore in July from Tk 10,156.38 crore in June.
Positive market trend in July prompted investors to increase their participation
on the trading floor, said market operators.
The average daily turnover on the DSE in July also increased to Tk 951.33 crore compared with that of Tk 579.4 crore in June.
Under the Income Tax Ordinance 1984, the DSE collects 0.05 per cent tax on turnover from brokerage houses which collect the tax from investors on their daily transactions and 5 per cent tax on capital gains made by sponsor-directors and placement-shareholders.
Single-month tax collection by the government from the DSE hit a record high in November 2010 when it received Tk 47.71 crore thanks to the market boom in 2009-2010. 

More about:

Want stories like this in your inbox?

Sign up to exclusive daily email

Advertisement

images

 

Advertisement

images